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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

September 06, 2023

Labour productivity of Canadian businesses declined at a seasonally adjusted annualized rate of 2.4% from Q1 2023 to Q2 2023. Hours worked increased by 1.6% and output was down 0.9%. 

This was the fifth consecutive decline in labour productivity and the eleventh decline in the last 12 quarters since productivity spiked in the early waves of the COVID-19 pandemic as employment loss was concentrated in lower-productivity industries.   

Total compensation per hour increased at a seasonally adjusted annualized rate of 6.0% in Q2 2023, the sixth consecutive increase after a slight decline at the end of 2021. Growth in employee compensation combined with a decline in productivity resulted in 8.6% annualized growth in unit labour costs of Canadian businesses in Q2 2023. This was the sixth consecutive quarterly increase in the unit labour costs.

Statistics Canada.  Table  36-10-0206-01   Indexes of business sector labour productivity, unit labour cost and related variables

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