2.Canada's real GDP per capita is growing, contrary to what the recent headline article said. The article contradicted itself but pointed out that Real GDP per capita is growing at about 0.4% a year, which is very low.
From the TD Bank report: Jul 13, 2023 — Canadian real GDP per capita has grown at a meagre rate of only +0.4% annually, paling in comparison to the advanced economy average of +1.4%.
I think what the headline meant to say is that there has been a slowdown in the growth rate of real GDP per capita. This is similar to the distinction between disinflation (a decline in the rate of inflation) and deflation (a decline in prices.)
Assuming we're all talking about
this article, then it's pretty damning for Canada tbh. US GDP per capita has increased by 11.7% in the same time period that Canada's increased by 2.4%. These immigration levels are starting to look like a gigantic ponzi scheme.
I used to think of Australia and Canada as mirror countries from the two hemispheres but it seems like Australia is more reasonable here. They have much more sustainable levels of immigration which have allowed their GDP per capita to increase in tandem with other advanced economies.