Want to move to Canada? Think carefully, Americans

Over the years, we’ve all heard fellow Americans grousing about moving to Canada if an upcoming election doesn’t go their way. But leaving aside immigration issues, would it be worth it to move? If you ask Canadians these days, you might be surprised to hear them urging you to stay put.

Canadians are in an atypical funk, fed up with longtime Prime Minister Justin Trudeau and hurting from a much weaker economy than the U.S. has experienced in recent years. If you think inflation, interest rates, uneven economic growth rates and the high cost of housing are problems in the U.S., don’t bother looking north for salvation. Canada has it a lot worse.

And while their youthful leader has a better head of hair than either President Joe Biden or Republican challenger Donald Trump, Mr. Trudeau is tearing it out as his approval numbers sink. A restless nation is on track to oust him during a federal election widely expected to be held next year.

Mr. Trudeau won election as prime minister in 2015 as much on star power as a coherent platform. His popularity stayed strong for several years, as Canadians watched Americans elect the divisive Mr. Trump and then battle over the politics of grievance. Turned out, America’s internal turmoil foreshadowed trouble ahead for Mr. Trudeau.

A series of nagging scandals dented his image, and then COVID upended Canadian life, as Mr. Trudeau shut down the economy and ramped up government spending. The budget soared as the country borrowed heavily for pandemic relief. Lockdowns and vaccine mandates prompted a backlash, culminating in a truck blockade of downtown Ottawa in 2022.

By far his most difficult challenge, however, is reversing his poor stewardship of the economy. Canada has a wealth of energy and mineral resources, as well as world-class centers of commerce in Toronto and Vancouver. But the soaring cost of living has punished many Canadians, none worse than the Gen Z voters who were among the most pro-Trudeau.

Runaway grocery prices, rising mortgage rates, anemic economic growth and an acute shortage of affordable housing has made life miserable for young adults, who increasingly see the standard of living their parents enjoyed as far out of reach. In a public opinion poll earlier this year, 70% of Canadians agreed with the statement, “It feels like everything is broken in this country right now.”

So far, Mr. Trudeau has offered little to voters upset about the unaffordable price of food and rent, except to raise taxes and promise subsidies, which will continue to stymie economic growth. Canadian law requires an election to be held by the fall of 2025, and Trudeau needs to gain back a lot of ground, or he’s going down like the loonie, worth just 73 cents to the U.S. dollar, even though it achieved near parity in 2012.

Americans, whether it’s Mr. Trump, Mr. Biden or someone else who wins on Nov. 5, better hold off on calling the movers.