Fraser Institute News Release: Incomes in Ontario slowest growing nationwide over past 20 years
2024年5月9日 - 6:00PM
Income in Ontario grew the slowest in Canada over the past 20
years, according to a new study published by the Fraser Institute,
an independent, non-partisan Canadian public policy think-tank.
“Among the provinces Ontario, despite its relative size and
population, had the slowest growing incomes nationwide over the
past two decades,” said Ben Eisen, senior fellow at the Fraser
Institute and co-author of the study.
Ontario's Two Lost Economic Decades: 2002-2022
finds that, from a big picture perspective using several key
indicators of Ontario’s economic performance from 2002-2022,
minimal economic progress was made for Ontarians during this
time—and lost ground relative to much of the country.
Notably, across the provinces, growth in median income in
Ontario during this time was the worst nationally, with median
income (inflation-adjusted) growth of 7.2 per cent. This was far
less growth than the second worst performing province, Alberta,
which saw total growth of 17.4 per cent during the 20-year
period.
The weak growth in median employment income during this period
is one of the clearest indicators of how Ontario’s economic
performance has adversely affected the lives and economic prospects
of Ontarians, and the extent to which the province has lost ground
relative to the rest of the country.
The study also found that GDP per person growth was also the
second-worst nationwide and business investment per worker over the
20-year period was only 61 per cent of the national average.
“On a number of important economic metrics, Ontario is lagging
the rest of the country, which ultimately means Ontario workers are
falling behind, along with opportunities for them,” said Eisen.
MEDIA CONTACTS:
Ben Eisen, Senior Fellow Fraser Institute
To arrange media interviews or for more information, please
contact:Drue MacPherson, Fraser Institute604-688-0221 ext.
721drue.macpherson@fraserinstitute.org
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The Fraser Institute is an independent Canadian public policy
research and educational organization with offices in Vancouver,
Calgary, Toronto, and Montreal and ties to a global network of
think-tanks in 87 countries. Its mission is to improve the quality
of life for Canadians, their families and future generations by
studying, measuring and broadly communicating the effects of
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