--- canonical_url: "https://csls.ca/research/slower-economic-growth-and-subjective-well-being-in-the-canadian-context-a-discussion-paper/" title: "Slower Economic Growth and Subjective Well-Being in the Canadian Context: A Discussion Paper" author: name: "CSLS" url: "https://csls.ca/author/cslc/" date_published: "2026-07-02T12:49:06+00:00" date_modified: "2026-07-02T12:49:06+00:00" post_type: "research" summary: "" post_tag: - "Canada" - "demographics" - "economic growth" - "household debt" - "inequality" - "living standards" - "productivity" - "slow growth" - "subjective well-being" country_focus: - "Canada" province_region: - "National" research_theme: - "Economic Well-Being" - "Productivity and Economic Measurement" featured_image: "https://csls.ca/wp-content/uploads/2026/07/old-reports_hero_banner_bg.webp" status: "publish" --- # Slower Economic Growth and Subjective Well-Being in the Canadian Context: A Discussion Paper Canonical URL: https://csls.ca/research/slower-economic-growth-and-subjective-well-being-in-the-canadian-context-a-discussion-paper/ # Slower Economic Growth and Subjective Well-Being in the Canadian Context: A Discussion Paper [Download full PDF report](https://csls.ca/pdf/csls2016-09-1.pdf) Cite this report × Cite this report as: Pennock, Mike. 2016. “Slower Economic Growth and Subjective Well-Being in the Canadian Context: A Discussion Paper.” CSLS Research Report 2016-09. Ottawa: Centre for the Study of Living Standards. https://csls.ca/research/slower-economic-growth-and-subjective-well-being-in-the-canadian-context-a-discussion-paper/ ## Author: - Mike Pennock British Columbia Ministry of Health ## Report 2016-09 July 2016 51 pages ## Related research [Measuring the Appropriate Outcomes for Better Decision-Making: A Framework to Guide the Analysis of Health Policy Matthew Calver March 2016 | Report 2016-03 | 132 pages](https://csls.ca/research/measuring-the-appropriate-outcomes-for-better-decision-making-a-framework-to-guide-the-analysis-of-health-policy-2016-03/) [Living Standards Domain of the Canadian Index of Wellbeing Andrew Sharpe, Christopher Ross November 2011 | Report 2011-17 | 124 pages](https://csls.ca/research/living-standards-domain-of-the-canadian-index-of-wellbeing-2011-17/) [Productivity: Key to Economic Success Centre for the Study of Living Standards (CSLS) March 1998 | Report 1998-01 | 99 pages](https://csls.ca/research/productivity-key-to-economic-success/) [Apprenticeship in Canada: A Training System Under Siege? 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This was reflected in the recent long-term forecast for the Canadian economy by the Centre for the Study of Living Standards. This transition is due to underlying demographic factors which are slowing labour force growth as well as slower rates of labour force productivity. Although there is a consensus among forecasters about the inevitability of slower growth there is less consensus about the magnitude of the change. This model suggests that countries such as Canada could enter into a prolonged period of slower growth without pronounced negative consequences for population well-being if other contributors to well-being are both protected and mobilized to offset the impacts of slower income growth. The most serious threat to wellbeing that is associated with the slow-growth scenario is an expected increase in income inequality and household debt. Canada may be particularly vulnerable to these effects because it is entering a slow growth era with relatively high levels of inequality and household debt, relative to most other mature nations. About the Author Mike Pennock is a population health epidemiologist living and working in Victoria, British Columbia. He is currently employed as the Senior Epidemiologist in the Office of the Provincial Health Officer within the British Columbia Ministry of Health. This paper was written for the Centre for the Study of Living Standards independent of his position with the Ministry and the opinions contained within do not necessarily reflect the opinions of the Ministry or the Government of British Columbia. La plupart des prévisions économiques courantes pour les économies nationales prévoient que des pays matures comme le Canada connaîtront quelques décennies de croissance économique plus lente que par le passé. Cela se reflète dans les récentes projections à long terme de l’économie canadienne réalisées par le Centre d’étude des niveaux de vie. Cette transition est attribuable à des facteurs démographiques sous-jacents qui ralentissent la croissance de la main-d’œuvre, ainsi qu’à un ralentissement de la croissance de la productivité du travail. Bien qu’il existe un consensus parmi les prévisionnistes quant au caractère inévitable de ce ralentissement, le consensus est moins clair quant à son ampleur. Ce modèle suggère que des pays comme le Canada pourraient entrer dans une période prolongée de croissance plus lente sans conséquences négatives marquées pour le bien-être de la population, à condition que les autres facteurs contribuant au bien-être soient à la fois protégés et mobilisés pour compenser les effets du ralentissement de la croissance du revenu. La menace la plus sérieuse pour le bien-être associée au scénario de croissance lente est une hausse attendue de l’inégalité des revenus et de l’endettement des ménages. Le Canada pourrait être particulièrement vulnérable à ces effets, car il aborde une ère de croissance lente avec des niveaux d’inégalité et d’endettement des ménages relativement élevés par rapport à la plupart des autres pays matures. [Download full PDF report](https://csls.ca/pdf/csls2016-09-1.pdf)