Canada's Underlying Economic Challenges: A Deeper Look

Canada is lagging behind other advanced economies in recovering its pre-pandemic standard of living, according to a report by TD Economics. Despite a rapid population growth and seemingly strong economic recovery, when adjusted for population, Canada's economic performance paints a less rosy picture. A key concern is declining productivity driven by dwindling business investments and a significant innovation gap. Provinces rich in oil reserves, such as Alberta, Saskatchewan, and Newfoundland & Labrador, still have higher GDP per capita, but their statuses are declining. TD Economics predicts that Canada will rank last in real GDP per capita growth among OECD countries until 2060. More information: https://financialpost.com/news/canada-standard-of-living-falling-behind