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Dear John,
From 2019 to 2023, Canadian living standards declined — and as of the end of 2023, the decline has not yet ended.
From April 2019 to the end of 2023, inflation-adjusted per-person GDP, a broad measure of living standards, declined from $59,905 to $58,111 or 3%.
This is the third-steepest decline in 40 years and is already the second-longest.
The severity of the decline in living standards should be a wake-up call for policymakers.
Read the full study here, and be sure to share this one on social media.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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