The important inflation affecting Canadians has been well-known for years. What I wasn't aware of was our individual income has been decreasing for a long time, even though GDP is growing.

Indeed, due to how recessions are defined, a major phenomenon had been off the radars of mass media until now, but a July 2024 RBC report shows that Canada's per capita GDP has declined to 3.1% below 2019 levels.

So as the CBC explains in a long but interesting explanation, Canadians feel like they're in a recession even though economists disagree. The most interesting part, at 7 minutes, shows that Canada is by far the worst from 3 G7 countries suffering from such a "per capita recession".