Canadians' well-being trails economic growth, study finds
The gap between the country's economic health and Canadians' well-being has widened over a two-decade period, according to a report released Tuesday.
Over the period studied in the report -- 1994 through 2014 -- Canadian gross domestic product grew by 38 per cent, said Bryan Smale, a professor at the University of Waterloo and the director of the Canadian Index of Wellbeing.
"But our well-being has only grown by about just under 10 per cent, and that gap between our well-being and economic progress is growing," Smale told CBC News.
Not socializing as much
"The trickle effect of that has been people are sacrificing important time in things like leisure and culture. They are not socializing with their friends as much, they are not protecting as much of their income for vacation and valued activities that does enhance their well-being," he said.
The national well-being index is based on 64 indicators in eight categories, including living standards, time use, leisure and culture, and community vitality, among others. The index draws on about 200 data sources, primarily from Statistics Canada.
In 2007, the gap between GDP and the well-being index was 22 percentage points. By 2010, the gap had risen to 24.5 percentage points, and by 2014, it had jumped to 28.1.
Canadians' well-being trails economic growth, study finds - Business - CBC News
The gap between the country's economic health and Canadians' well-being has widened over a two-decade period, according to a report released Tuesday.
Over the period studied in the report -- 1994 through 2014 -- Canadian gross domestic product grew by 38 per cent, said Bryan Smale, a professor at the University of Waterloo and the director of the Canadian Index of Wellbeing.
"But our well-being has only grown by about just under 10 per cent, and that gap between our well-being and economic progress is growing," Smale told CBC News.
Not socializing as much
"The trickle effect of that has been people are sacrificing important time in things like leisure and culture. They are not socializing with their friends as much, they are not protecting as much of their income for vacation and valued activities that does enhance their well-being," he said.
The national well-being index is based on 64 indicators in eight categories, including living standards, time use, leisure and culture, and community vitality, among others. The index draws on about 200 data sources, primarily from Statistics Canada.
In 2007, the gap between GDP and the well-being index was 22 percentage points. By 2010, the gap had risen to 24.5 percentage points, and by 2014, it had jumped to 28.1.
Canadians' well-being trails economic growth, study finds - Business - CBC News
