Why Canada’s low productivity is problematic for B.C.'s businesses, workers and economy

Many B.C. business leaders say they agree with the Bank of Canada’s statement that the country is facing a productivity “emergency” that has already negatively impacted Canadians’ quality of living and that requires immediate redress.

Productivity in B.C. has also seen consecutive declines over the past three years—dropping from $68 per hour in 2020 to $65.10 in 2021 and to $64.60 in 2022. “Australia is a smaller country than Canada but their standard of living and income per person is now much higher than Canada’s and that’s really down to its productivity being higher,” he said. “German workers get 20 per cent more time off than we do by being more productive.”

“The feedback is that British Columbia is increasingly a challenging place to invest in. And without becoming a more attractive destination for investment, we will continue to struggle to become more productive,” he said.

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