Insights and Strategies
Canada is in the midst of a productivity problem that even the Bank of Canada’s senior deputy governor labeled an “emergency.” Recently, there has been a surge in headlines featuring the term “productivity,” capturing people's attention, but what does that really mean, and what are the impacts to the financial markets and even the standard of living for Canadians?
Productivity, in this context, is a measure of GDP output per hour worked. In this publication, we connect the dots on the productivity problem, exploring its impact on living standards and long-term business profit growth. We delve into the reasons behind Canada’s lag in productivity compared to global competitors, address current primary concerns, and outline our expectations for the future.