What are "stagnating living standards", anyway? And might the US per-capita stat be skewed by the obscenely filthy rich few? Canada isn't exactly a sexy living location for tech & investment zillionaires, after all--take away the top 1% from the US and Canada respectively, and there might be greater parity...
In the almost 10 years since Trudeau was elected, the gap between the Canadian standard of living vs the United States has grown even larger, as you can see from the figures below. I wonder how many Canadians are aware of how far we have fallen behind the Americans. I suspect very few, thanks to "boiling frog syndrome". With Canada's abundance of natural resources and human capital, Canadians should be the richest people on earth, but we are falling further behind because our "leaders" are not serious people.
Using
median GDP per capita figures so as not to be skewed by the wealthiest, we see that ten years ago, Canadians had parity with the Americans. In the ten years since Trudeau was elected, Canadians have lost close to $20,000 in income versus Americans:
2015: U.S. median GDP per capita ≈ $56,500, Canada ≈ $56,000
2024: U.S. median GDP per capita ≈ $83,700, Canada ≈ $61,500
All amounts USD
As we see from the
median GDP figures, Canadian earnings have almost stood still over the last 10 years. This should be headline news, but our media is paid off to be stenographers for the government.
Compounding the misery for Canadians, of course, is the fact that everything else has gone up in price, from housing, food, insurance, cars, everything!
Source:
https://countryeconomy.com/countries/compare/usa/canada?sc=XE34