According to a recent study by the Fraser Institute, Canada’s standard of living is on track for its worst decline in 40 years. The study highlights that Canada’s GDP per capita has been falling at a rate of 0.4% per year since 2020, which is the worst rate among 50 developed economies. This decline in living standards is attributed to several factors, including economic policies and population growth that hasn’t translated into per capita income growth.
🇨🇦Canada’s standard of living is on track for its worst decline in 40 years, according to a new study by Canada’s Fraser Institute.
They found that unlike the previous recessions, Canada is not recovering this time. Something broke.
In fact, according to the Financial Post,… t.co/KytN50mNs7
— Tracy (𝒞𝒽𝒾 ) (@chigrl) July 27, 2024
Sources:
financialpost.com/news/canada-standard-of-living-faces-worst-decline-40-years
finance.yahoo.com/news/canada-standard-living-track-worst-164145332.html
www.dailysignal.com/2024/07/25/canadas-worst-decline-40-years/