Productivity in the Economy

You might be hearing some positive-sounding headlines about Canada's economy recently. Inflation is coming down, and we've (so far) managed to avoid the recession many were predicting following the pandemic. So why do so many Canadians still feel like they're struggling to get by?

In a word: productivity. The Bank of Canada has called the country's economic productivity situation an "emergency," and economists say there's a direct link between productivity and standard of living.

BMO chief economist Doug Porter explains.

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