A major Canadian bank says that the economic downturn is having a startling effect on the investment market, with people unwilling to risk the volatile market, hoarding a record $75B in cash.

The report, published by CIBC, says that Canadians have put away $75B, almost 10 percent of the total value of overall personal liquid assets in Canada, since December 2014 which, in regular circumstances, would have been invested.

It’s an 11 percent jump from the year before.

To make matters worse, the report indicates that investors are likely to stick with this strategy and lose out on billions in returns.

The new numbers come on the heels of a Stats Canada report, showing that Alberta has lost more jobs in 2015 than in any year since the 1982 recession.

This job uncertainty and market volatility has kept people leery about investing their money, experts say.

“There’s a couple of issues that they’re facing. One is not investing in the market because it’s a fear, second is also saving for larger assets like their homes and so forth,” said Faisal Karmali, with the Popowich Karmali Advisory Group. “If you look at Toronto, Vancouver, even parts of Calgary, at some points we’re having very expensive homes, so hoarding cash to purchase might be the reasons why they’re holding on, but also when you look at the volatility, it’s very difficult for the individual to be comfortable going into the market. When you’re looking at the older demographic, it’s fear, it’s understanding that they just can’t make the money back again if they lose it.”

The report says that people under the age of 35 are holding onto twice as much as those over the age of 65.

(With files from the Canadian Press)