Living standards for the average Canadian declined over the period 2020 to 2024 despite growth in the overall economy
Canada’s “Ugly” Growth Experience, 2020–2024: Why GDP per Capita Declined while the Overall Economy Grew.
By Fraser Institute —— Bio and Archives--September 18, 2025
Canadian News, Opinion | Comments | Back To Full Article
VANCOUVER—Living standards for the average Canadian declined from 2020-2024 despite growth in the overall economy, as this drop in GDP per person is the worst over any five year-period since the Great Depression, finds a new study published today by the Fraser Institute.
“Canada’s decline in GDP per person was the worst among OECD economies over this period and does not bode well for future improvements in living standards for the average Canadian,” said Lawrence Schembri, senior fellow at the Fraser Institute and co-author of Canada’s “Ugly” Growth Experience, 2020–2024: Why GDP per Capita Declined while the Overall Economy Grew.
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