“The Canadian economy is on track to be the worst performing economy out of 38 advanced countries over the next 40 years, with the lowest growth in real GDP per capita,” says David Williams, the Vice-President of Policy at the Business Council of British Columbia. He goes on to say, “Young Canadians entering the workforce today are facing 40 years of stagnant average real incomes, according to OECD projections.”
That is a dire warning to policymakers in Canada: one that demands a need to address the underlying causes. “If they don’t,” Williams says, “there will be a decline in real incomes relative to all other advanced OECD countries.”
David Williams, Vice President of Policy at BCBC spoke on Conversation That Matters about the bleak forecast of stagnation young Canadians will face over the course of their careers.