Productivity is output per hour worked.
Canadians worked a total of 34.6 billion hours in 2023 to generate a GDP of USD$1.8. trillion. This works out to USD$53 per hour worked. (OECD, Productivity Levels, 2023)
This is compared to $78 per hour in the US (OECD, Productivity Levels, 2023)
Our collapse in productivity has become so severe that Canada’s productivity gap with the U.S. now stands at about $20,000 per person a year. (RBC Economics, June 2024).
An American worker now is nearly 50% more productive per hour than a Canadian worker (OECD, Productivity Levels, 2023).
This is because our workers don’t get the same investment in their tools and technology to build things.
