Ontario’s income growth lags behind rest of Canada for past two decades

A recent study conducted by the Fraser Institute has revealed that income growth in Ontario has been the slowest in Canada over the past 20 years. The study, titled “Ontario’s Two Lost Economic Decades: 2002-2022,” highlights the lack of significant economic progress in the province during this time period.

According to Ben Eisen, senior fellow at the Fraser Institute and co-author of the study, Ontario had the slowest growing incomes nationwide despite its relative size and population. The study found that median income growth in Ontario was only 7.2 percent over the 20-year period, the worst performance among all provinces. In comparison, Alberta, the second worst performing province, saw a growth of 17.4 percent in median income.

The study also revealed that GDP per person growth in Ontario was the second-worst nationwide, and business investment per worker was only 61 percent of the national average. These findings indicate that Ontario is lagging behind the rest of the country in terms of economic performance, which has negative implications for the economic prospects of Ontarians.

Ben Eisen emphasized that the weak growth in median employment income is a clear indicator of how Ontario’s economic performance has affected the lives of its residents. He stated that Ontario workers are falling behind, along with opportunities for them, due to the province’s underperformance in key economic metrics.

For more information or media interviews, interested parties can contact Drue MacPherson at Fraser Institute.