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Canada’s productivity has been declining. Why that’s a problem for the economy
Canadians feeling like they weren’t as productive as they could’ve been in 2023 can take solace. Neither was Canada’s economy. Labour productivity — a broad measure of real gross domestic product by hours worked across the economy — has declined nationally in six consecutive quarters, Statistics Canada said last month. Economists who spoke with Global News say this metric is critical for improving Canadian quality of life, and recent declines will be particularly worrying to the Bank of Canada as it gauges where to set its benchmark interest rate next. “What it really boils down to is a sense that if we ... (full story)
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