Another study confirms this. The standard of living of Canadians is in constant decline. The situation is even worse than before the pandemic.
The indicator comes from GDP and its variations per hour worked and per capita, from which we can make a nod to productivity and standard of living. On this basis, it is known and documented that productivity growth in Canada has lagged behind countries with so-called developed economies for decades. Particularly compared to the United States. “ What is new is that productivity has actually reversed itself over the last five years, has declined, taking real GDP per capita with it on a downward trajectory. » Douglas Porter, chief economist of BMO, even speaks of a sustained decline in recent years without precedent since the post-war period.
Note – Google translate.
