For additional information relating to this article, please contact:
March 05, 2025CANADA BUSINESS SECTOR LABOUR PRODUCTIVITY, Q4 AND ANNUAL 2024 
Labour productivity of Canadian businesses increased at a seasonally adjusted annualized rate of 2.3% from Q3 2024 to Q4 2024, following a gain of 0.2% in Q3 2024. Hours worked increased 0.9% and output was up 3.3%.
Total compensation per hour increased at a seasonally adjusted annualized rate of 3.2% in Q4 2024, the fifteenth consecutive increase since the second quarter of 2021. Unit labour costs of Canadian businesses increased at a seasonally adjusted annualized rate of 0.9% in Q4 2024.
Annual 2024
On an annual basis, labour productivity of Canadian businesses rose 0.6% in 2024, following a decline from 2021 to 2023. The annual productivity gain in 2024 was driven by real business GDP growth (+1.1%) being higher than the growth in hours worked (+0.6%).
Hourly compensation was up 4.3% in 2024, thus unit labour costs rose 3.7% with the gain in labour productivity (+0.6%).
Statistics Canada. Table 36-10-0206-01 Indexes of business sector labour productivity, unit labour cost and related variables