Canada's labour productivity growth rate has declined, largely due to innovation and investment issues in businesses.
A Statistics Canada study reveals that Canada's labour productivity growth rate has declined in the past two decades, largely due to lack of innovation and investments in businesses. Labour productivity growth fell from 1.8% per year (1980-2000) to 0.8% (2015-2022). Investment contribution to labour productivity decreased from 0.9% (1980-2015) to 0.4% (2015-2022). Business leaders believe the capital gains tax hike in the latest budget will further harm the situation.
April 17, 2024
7 Articles