On paper, it’s the best of times, but you won’t hear politicians telling Canadians that.
Canada’s economy has been unambiguously strong for about a year, according to the high-frequency data Statistics Canada collects every month. Gross domestic product will probably expand by at least three percent this year, something that some economists thought our aging and relatively unproductive economy might never do again. The unemployment rate (6.2 per cent in August) is about as low is it ever gets, and could push lower still. The median household income in Canada is about $70,000, roughly 10 per cent more than a decade ago, according to census figures released last month. That’s an excellent number, considering household wealth in the United States barely grew over the same period.
A question then: why exactly are we so negative?
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