Real output per capita has fallen to seven per cent below its long-term trend since the pandemic, resulting in a decline of roughly $4,200 per person, according to a new report by Statistics Canada.
To reverse the trend, GDP per capita, a metric used by economists together with other economic indicators to evaluate a country’s standard of living, would need to grow at an average yearly rate of 1.7 per cent, authors Carter McCormack and Weimin Wang found.
