Productivity in Canada decreased to 99.96 points in the first quarter of 2024 from 100.23 points in the fourth quarter of 2023. Productivity in Canada averaged 84.46 points from 1981 until 2024, reaching an all time high of 119.75 points in the second quarter of 2020 and a record low of 62.34 points in the third quarter of 1981. source: Statistics Canada

Productivity in Canada is expected to be 105.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Productivity is projected to trend around 112.00 points in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-06 01:30 PM
Labor Productivity QoQ
Q4 0.4% -0.5% 0.2% -0.4%
2024-06-05 12:30 PM
Labor Productivity QoQ
Q1 -0.3% 0.2% 0.4% 0.6%
2024-09-04 12:30 PM
Labor Productivity QoQ
Q2 -0.3%


Related Last Previous Unit Reference
Average Hourly Wages YoY 36.01 35.77 CAD May 2024
Employed Persons 20517.80 20491.10 Thousand May 2024
Employment Change 26.70 90.40 Thousand May 2024
Employment Rate 61.30 61.40 percent May 2024
Full Time Employment Chg -35.60 40.10 Thousand May 2024
Job Vacancies 646365.00 737555.00 Dec 2023
Participation Rate 65.40 65.40 percent May 2024
Labour Costs 132.60 130.89 points Mar 2024
Minimum Wages 16.55 15.55 CAD/Hour Oct 2023
Non Farm Payrolls 18072.00 18090.00 Thousand Feb 2024
Part Time Employment Chg 62.40 50.30 Thousand May 2024
Population 40.80 39.29 Million Dec 2023
Labor Productivity 99.96 100.23 points Mar 2024
Unemployed Persons 1365.10 1337.40 Thousand May 2024
Unemployment Rate 6.20 6.10 percent May 2024
Average Weekly Earnings YoY 4.20 4.50 percent Mar 2024
Wages 30.59 30.15 CAD/Hour Feb 2024
Wages in Manufacturing 30.99 30.38 CAD/Hour Feb 2024
Youth Unemployment Rate 12.60 12.80 percent May 2024

Canada Productivity
In Canada, Productivity is the real value of output produced by a unit of labor during a certain time.
Actual Previous Highest Lowest Dates Unit Frequency
99.96 100.23 119.75 62.34 1981 - 2024 points Quarterly
SA, 2017=100


News Stream
Canada Labor Productivity Contracts Unexpectedly
Labor productivity in Canada fell by 0.3% in the first quarter of 2024, following a 0.2% increase in the previous quarter and compared to market forecasts of a 0.4% growth. Lower productivity in Q1 2024 coupled with an increase in hourly compensation by 1%, lead to a higher cost of labor by 1.3%, much higher than the previous quarter at 0.2%. For the goods business sector, output declined QoQ by 0.1%, hours worked were unchanged, labor productivity fell by 0.1% and total compensation for hour worked rose by 0.8%. As for the services business sector, output grew by 0.7%, hours worked rose by 0.6%, labor productivity was up 0.1% and total compensation per hour worked increased by 1.2%.
2024-06-05
Canada Labor Productivity Rebounds More than Expected
Labor productivity in Canada increased by 0.4% in the fourth quarter of 2023, following a downwardly revised 0.5% fall in the prior period and compared with market forecasts of a 0.2% rise. This was the first gain since the first quarter of 2022, as business output increased while hours worked did not change. Service-producing businesses saw a 0.4% increase in productivity, the first growth in six quarters, primarily driven by retail trade. For goods-producing businesses, productivity edged up by 0.1% in Q4, after four quarters of decline. On average, labor productivity of Canadian businesses fell 1.8% over 2023, a third consecutive annual decline. This reflects the 0.6% increase in real GDP of businesses, combined with a 2.5% increase in hours worked. Growth in business output and hours worked slowed for a second consecutive year.
2024-03-06
Canada Labor Productivity Drops More than Anticipated
Labor productivity in Canada decreased by 0.8% in the third quarter of 2023, following a 0.1% decline in the prior period and compared with market forecasts of a 0.6% drop. It marks the sixth consecutive fall, as business output contracted after two quarters of growth while hours worked increased only marginally. Productivity decreased in both services (-0.4% vs -0.6% in Q2) and goods-producing businesses (-0.9% vs -0.2%), with 10 of the 16 industry sectors reporting reductions. During this period, real GDP for businesses contracted by 0.7%, following a 0.3% rise in the three months to June.
2023-12-06