The last time the Toronto Blue Jays were in the World Series was 32 years ago.

Today’s Twenty-Four looks at some of the ways the Canadian economy has changed over those three decades.

Economic growth - More output per Canadian

Canada had just emerged from the recession of 1990-1992 when the Jays won their first World Series in October 1992. There have been two national recessions since then, one in 2008-2009 and one in 2020.

Real GDP per Canadian has gone from about $41,000 in 1993 to $58,000 last year, for an increase of 43%, with the bulk of the growth occurring over the first half of that period.

While positive, the rise in output per Canadian masks recent weakness in productivity growth that, if not addressed, could leave Canada stranded on base, and undermine the country’s future economic prosperity.

International trade - More USA, more China

In 1993, it was still the early days of free trade with the United States. The Canada-United States Free Trade Agreement had been in effect since January 1, 1989 but the North American Free Trade Agreement (NAFTA), although ratified by Canada, the U.S. and Mexico in 1993, did not go into effect until January 1, 1994.

In 1993, the U.S. was Canada’s largest customer and remains so today, but China has stepped up to the plate and replaced Japan as the second largest buyer of Canadian goods.

The dramatic rise in U.S. protectionism under Trump 2.0 and trade disputes between Canada and China are dark clouds hanging over the future of Canada’s trade with the two largest economies in the world. Just as we hope the Jays are able to defeat the Dodgers, we hope the trade wars will be replaced by, if not trade peace, then at least some sort of detente.

Unemployment rate - Better than it was back then

The unemployment rate in Canada averaged 11.4% in 1993 compared to 6.9% so far this year (through September).

The youth unemployment rate (those aged 15-25) was 17.1% in 1993 versus 14.1% so far this year.

While the current unemployment rate in Canada is not as bad as it has been in the past, it is elevated and needs to come down before we can say things are going well in the economy.

Population - Larger and older

The national population (as of July 1) has gone from 28.7 million in 1993 to 41.7 million in 2025 for an increase of 45%.

The median age has gone from 34.0 years to 40.6 with the share of the population aged 65 and over (our veteran players, you might say) going from 11.7% to 19.5%.

Unlike some of its industrialized peers, Canada has been posting strong population growth even as it has been getting older but this does not remove the need to do more to proactively adapt to the aging of the population if we want to take advantage of opportunities it brings while also minimizing the challenges it presents.

In summary, GO JAYS! (and during commercial breaks, don’t forget to discuss ways to boost Canada’s productivity growth).

Answer to the previous trivia question: It’s called shrinkflation when the size of Halloween treats gets smaller but the price doesn’t.

Today’s trivia question: Are pumpkins a fruit or a vegetable?