Labour productivity of Canadian businesses rose 3.4% in the first quarter, the largest quarterly increase recorded, as hours worked fell faster than business output. Following measures taken in March to stop the spread of COVID-19, including lockdown and the temporary closure of many businesses, output and hours worked both fell sharply for the first quarter. However, hours worked fell more sharply than business output, resulting in a strong overall productivity increase. The many closures imposed by governments to contain the COVID-19 virus led to record employment declines, compounded by reductions in hours worked ... (full story)