I think the benefits labour participation increasing has been swallowed up by the cost of housing
Essentially because there are more two income families the amount of dollars chasing housing is highe while the amount of desired housing is fixed. So you get a lot of the extra income a 2nd person working in the home used to provide being swallowed up into housing causing more work for the same benefit.
Another problem is that we have taken the results in gains from automation and energy cost reductions by consuming more rather than working less. The hours per capita to run society to meet basic needs is far lower than at any point in history (maybe recently with pricing carbon you could say within the last 10 years was the bottom). So as a society we have a consumption problem and a wealth distribution problem.
Average quality of life is clearly higher median quality may not be.
Median household familiy income in adjusted dollars is up significantly since 1980. (Down slightly post Covid)
https://www150.statcan.gc.ca/n1/dail...10323a-eng.htm
Quote:
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While there was no significant increase in median after-tax income of Canadian families and unattached individuals from 2018 to 2019, the past two decades have represented a period of growth in family incomes. Since 2000, the median after-tax income of Canadian families and unattached individuals has risen at an average rate of 1.2% per year above inflation, increasing by about $12,000.
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That’s gets us to the year 2000 and then in terms of 1980-2000
https://publications.gc.ca/Collectio...75-202-XIE.pdf
Real family income is up faster than inflation meaning the problem for families at least is wealth distribution and consumption.