{"id":45442,"date":"2024-04-01T10:00:21","date_gmt":"2024-04-01T10:00:21","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/04\/01\/canadas-productivity-emergency-and-the-role-newcomers-play\/"},"modified":"2024-04-01T10:00:21","modified_gmt":"2024-04-01T10:00:21","slug":"canadas-productivity-emergency-and-the-role-newcomers-play","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/04\/01\/canadas-productivity-emergency-and-the-role-newcomers-play\/","title":{"rendered":"Canada&#8217;s productivity &#8217;emergency&#8217; and the role newcomers play"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Labour productivity increased just once in past seven quarters<\/p>\n<div class=\"callout callout--noindent flex-align-center flex-justify-between\" data-evt-val=\"{\" control_fields=\"\" data-evt=\"visible\" data-evt-typ=\"element_view\"><span class=\"callout__text\"> Get the latest from Naimul Karim straight to your inbox <\/span><button class=\"button button--icon button--primary-alt\" data-id-login-redirect=\"https:\/\/financialpost.com\/author\/nkarim\/newsletters\/\" type=\"button\"><span class=\"button__text\">Sign Up<\/span> <span aria-hidden=\"true\" class=\"button__icon\"> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 11 11\" width=\"11\"><polygon points=\"1.1 0 7 6 1.1 12 0 10.9 4.8 6 0 1.1\"\/><\/svg> <\/span><\/button><\/div>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Apr 01, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 1\u00a0hour ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">6 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"9a24bc63-ad24-4791-b527-d67efe4dfece\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=webp&amp;sig=UNFHwmO09S0pYDblpfcrFQ,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=webp&amp;sig=kqykRQRuTf6tteNKVMOTjg 2x\" type=\"image\/webp\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=jpg&amp;sig=mVpIIfYRn7EAukCBwUNTXA,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=jpg&amp;sig=4u7gY6b52Or_3DQVju_bKg 2x\" type=\"image\/jpeg\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=webp&amp;sig=jRqJ-K61zJk1etLkcK0eog,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=webp&amp;sig=MR-k1m251kII10EhC2K_wQ 2x\" type=\"image\/webp\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=jpg&amp;sig=Y0y57Vm2ZpjKMz1fhjBUeg,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=jpg&amp;sig=puQe5Bsymcyzn-F9fjbxog 2x\" type=\"image\/jpeg\"><source media=\"(max-width: 767px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=288&amp;h=216&amp;type=webp&amp;sig=KlY6ooDHZIB8Rj-fcTCErA,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328pedestrians.jpg?quality=90&amp;strip=all&amp;w=576&amp;h=432&amp;type=webp&amp;sig=dTXAKwMfFv5jqlhX5ZVOQQ 2x\" type=\"image\/webp\"><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Pedestrians walk down St. Catherine Street in Montreal.<\/span> <span class=\"credit\">Photo by Ryan Remiorz\/The Canadian Press files<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Ever since the federal government announced its decision to place caps on temporary residents, economists have been talking about how the move could potentially compel businesses to invest more on technology instead of relying on \u201ccheap labour\u201d from abroad, which in the long run should help boost Canada\u2019s struggling productivity rate.<\/p>\n<p data-async=\"\">Concerns around productivity received even more attention last week after Bank of Canada senior deputy governor Carolyn Rogers said the country needs to tackle its poor efficiency numbers to inoculate the economy against future inflation.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment9254229667809935417612278454812672\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg article-content__sign-in-group hidden\" data-aqa=\"identity-sign-in\" data-async=\"\" id=\"article-block\">\n<section class=\"row\">\n<header class=\"identity-intro col-xs-12 col-md-6 flex-justify-center\">\n<div class=\"col-xs-12 col-sm-10 col-md-10\"><img loading=\"lazy\" decoding=\"async\" alt=\"Financial Post\" class=\"market-logo\" height=\"37\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/15.7.3\/websites\/images\/identity\/logo-identity-fp.svg\" width=\"280\"\/><\/p>\n<div class=\"intro-body__premium hidden\">\n<p>THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__register hidden\">\n<p>SUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cYou\u2019ve seen those signs that say: In emergency, break glass \u2014 well, it\u2019s time to break the glass,\u201d she said in a speech on March 26.<\/p>\n<p>The number of immigrants isn\u2019t the only factor that influences productivity, but it\u2019s important to understand its impact considering Canada\u2019s population grew at a record pace during the past two years \u2014 primarily due to temporary residents \u2014 by adding more than two million people.<\/p>\n<h2><strong>What exactly is productivity?<\/strong><\/h2>\n<p>Statistics Canada defines labour productivity as a measure of the country\u2019s gross domestic product (GDP) per hour worked. GDP measures the value of goods and services produced during a specific time frame.<\/p>\n<p>But other metrics are also used. For example, some economists define productivity as GDP per capita, which divides the GDP figure by the country\u2019s total population. Some say that this is a better metric since the number of hours worked can be artificially distorted due to strikes.<\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=564&amp;type=webp&amp;sig=WiqH6P8VX1uRjReXqBHA5w,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=1128&amp;type=webp&amp;sig=ffAN9027rquX1J1a_UaYMg 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=564&amp;type=jpg&amp;sig=q7dDNL4W4x_Em6DSgFbryQ,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=1128&amp;type=jpg&amp;sig=PT_h9nU8YpyENoqZVPMK4w 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=472&amp;type=webp&amp;sig=n7N5AkXJHxaynHlO7ODMbA,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=944&amp;type=webp&amp;sig=A6GEkjcUJ-TSvoem1QJEew 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=472&amp;type=jpg&amp;sig=_b2tI5M7sYE85vfv_jwZAw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=944&amp;type=jpg&amp;sig=lRUv7u-fMmbd-r5heigSbQ 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=288&amp;type=webp&amp;sig=NSE_7xVzsm_Kx7todiq5kA,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=576&amp;type=webp&amp;sig=za5iXhbmeJf-LGcbs-Tp_Q 2x\" media=\"(max-width: 767px)\" srcset=\"data:,1w\" type=\"image\/webp\"><img decoding=\"async\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=288&amp;sig=4C0Eyxq-sgjjzOmI7JkjwA\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=288&amp;sig=4C0Eyxq-sgjjzOmI7JkjwA,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=90&amp;strip=all&amp;w=576&amp;sig=hVugCGgsB1RP_Y3CuLrG1w 2x\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/canada-productivity-march-2024.jpeg?quality=5&amp;strip=all&amp;w=100&amp;sig=9aoz85QvJz0liGEdPdaE6A\" alt=\"\" height=\"848\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n<p>Regardless of the formula used, the results have been poor. Canada\u2019s labour productivity increased just once in the past seven quarters, while its GDP per capita has declined in five of the past six quarters.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot21 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories7560639598015628169421419477729280\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" alt=\"Top Stories\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/15.7.3\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment231524035288732649336568868241408\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>But declining productivity isn\u2019t a new phenomenon. As Rogers said, Canada\u2019s productivity has fallen from a \u201cnot great\u201d record of producing 88 per cent of the value generated by the United States economy per hour in 1984 to just 71 per cent in 2022.<\/p>\n<p>Weak investment has been a problem in Canada for the past 50 years, but the gap between the level of capital spending per worker by Canadian companies and the level spent by their U.S. counterparts has become worse over the past decade or so.<\/p>\n<h2><strong>What role do newcomers play?<\/strong><\/h2>\n<p>Akin to Canadian-born people, newcomers\u2019 contribution to the economy depends upon the value they add. While the relationship isn\u2019t simple, one way this can be measured is by analyzing their earnings. If newcomers earn more than the average Canadian income, they are more likely to be making a positive contribution to productivity. But if they are concentrated in low-wage job sectors, they are more likely to reduce labour productivity.<\/p>\n<p>A Statistics Canada report released last week assessed how the role of newcomers changed between 2001 and 2021 and said there has been a large increase in the number of immigrants working in \u201cprofessional jobs,\u201d or jobs that require a bachelor\u2019s degree or higher, compared to Canadian-born residents.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment8091523093973720991588324607000576\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>But it also said that while more Canadian-born workers moved away from low-skilled jobs in those 20 years, the role of immigrant workers in those occupations has increased. To some extent, newcomers \u201cbackfilled Canadian-born workers\u201d at the low-skilled job level, Feng Hou, one of the report\u2019s authors, said.<\/p>\n<p>\u201cIf immigrant workers continue to be employed in large and increasing numbers in lower-skilled occupations that are experiencing declining employment levels, their future economic prospects may be negatively affected as such jobs continue to disappear,\u201d the report said. \u201cIf this trend continues, it will also affect immigrant workers\u2019 contribution to economic growth.\u201d<\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=webp&amp;sig=MKU5E3EpuVEIJZoW-fDnRw,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=webp&amp;sig=DohmIiu99h8t7oNqPiR2PA 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=jpg&amp;sig=pKFyNm9ik1bf2gIfScA2lg,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=jpg&amp;sig=YosINFdwIpsC1S2nBOalVw 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=webp&amp;sig=7cgcGDyfEi8miCwVOaseLw,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=webp&amp;sig=HHiDL_Sne2PJ7Cbfenz5zw 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=jpg&amp;sig=M1SFjFBs2MJYvmPRxGEPug,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=jpg&amp;sig=yZNZKh0YmH4HAItEriYPSg 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=288&amp;type=webp&amp;sig=Ct91vYi_9T-rJCwmTAcpyQ,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=576&amp;type=webp&amp;sig=a_DoS2OwSvcnCGTd05uFUQ 2x\" media=\"(max-width: 767px)\" srcset=\"data:,1w\" type=\"image\/webp\"><img decoding=\"async\" alt=\"People near a job board in Winnipeg.\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=9uX3_4PtNi4GXNYm1RYnAg\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=9uX3_4PtNi4GXNYm1RYnAg,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=90&amp;strip=all&amp;w=576&amp;sig=e0WBxHuAwYc2-XfSsqX9PA 2x\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328hiring.jpg?quality=5&amp;strip=all&amp;w=100&amp;sig=msrxt17e34DVqkRotzqaxQ\" height=\"750\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"image-caption\"><span class=\"caption\"> Newcomers\u2019 contribution to the economy depends upon the value they add.<\/span> <span class=\"credit\">Photo by Winnipeg Sun files<\/span><\/figcaption><\/figure>\n<p>The findings of the paper reemphasize an important nuance: newcomers are increasingly picking up jobs in the low-wage sector, but they have also increased their presence at the upper end of the job spectrum.<\/p>\n<p>The balance, though, seemed to change after 2021 when Canada began allowing many more newcomers as it recovered from the pandemic in 2022 and the job vacancy rate reached record-low levels. As such, the government allowed businesses to hire more workers from abroad, paving the way for record population growth in both 2022 and 2023 when Canada added more than a million newcomers each year.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment1688197845401312372187199908610048\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>This was significantly more than the number of immigrants or permanent residents that Canada aims to bring in each year \u2014 around 500,000 \u2014 and led economists and think tanks to question the government on how it plans to accommodate the newcomers amidst rising prices and a housing crisis.<\/p>\n<p>Prime Minister Justin Trudeau\u2019s government recently limited the number of temporary residents entering Canada to five per cent of the overall population over the next three years, compared to the existing 6.2 per cent, or 2.5 million students, foreign workers and asylum seekers.<\/p>\n<h2><strong>What are businesses saying?<\/strong><\/h2>\n<p>Economists have lauded the cap as a positive move towards tackling productivity issues and housing shortages, but businesses are worried it could unfairly penalize some industries that are already facing labour shortages and rely on newcomers to fill them.<\/p>\n<p>The Canadian Chamber of Commerce, one of the country\u2019s largest business groups, last week said sectors such as agriculture, tourism and restaurants are concerned they may be hit.<\/p>\n<p>\u201cWe have some sectors of our economy that even before the pandemic faced chronic labour shortages and in some cases the pandemic made it worse. We haven\u2019t recovered from that,\u201d the association\u2019s senior director Diana Palmerin-Velasco said.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_6\">\n<section aria-describedby=\"advertisment4142098805070029101584873926164480\" class=\"ad\">\n<p>Advertisement 6<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-6\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<blockquote>\n<p>We haven\u2019t recovered<\/p>\n<p>Diana Palmerin-Velasco<\/p>\n<\/blockquote>\n<p>However, economists such as Royal Bank of Canada\u2019s <span>Robert Hogue <\/span>downplayed the impact and said that while businesses in some sectors may face challenges as a result of the cap, the number of unemployed people in Canada is rising and the labour pressure isn\u2019t as acute as it used to be.<\/p>\n<p>Palmerin-Velasco also questioned the productivity argument, saying these issues have been hurting Canada for a \u201clong, long time,\u201d and that people need to be careful before blaming newcomers for \u201cevery issue\u201d the country faces.<\/p>\n<h2><strong>What\u2019s the solution?<\/strong><\/h2>\n<p>Broadly speaking, most economists have stressed the need to create a better environment for business investment and an immigration system that focuses more on bringing high-skilled newcomers who can multiply Canada\u2019s economic value.<\/p>\n<p>Rogers proposed Canada invest more in industries that already generate the most output per hour worked, such as mining and oil and gas. Improving workers\u2019 skills, increasing competition and reducing excessive regulation are some other areas that have been talked about.<\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=webp&amp;sig=PQ2j79liIq16Gx243ENNKw,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=webp&amp;sig=3ySCMAFtogKpHek_h0xW2A 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=jpg&amp;sig=x_P5HzGs7KQt7RZJAqdmVw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=jpg&amp;sig=ONGsP_2saoiyjSt_uNTDiQ 2x\" media=\"(min-width: 1200px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=webp&amp;sig=3CrzVtghIqN3PnX_I0QPOw,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=webp&amp;sig=kP5EP97w9p44gzg3BDdmWQ 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/webp\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=jpg&amp;sig=H3Rp9sVMDrfJapal2VuYwA,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=jpg&amp;sig=T21qQPpAF7lj8J3uGz9tnQ 2x\" media=\"(min-width: 768px)\" srcset=\"data:,1w\" type=\"image\/jpeg\"><source data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=288&amp;type=webp&amp;sig=lLM2Gz3FChL6Lrdj9Vo1Cg,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=576&amp;type=webp&amp;sig=zlVS__PdS0Oyu_iGWcjlPQ 2x\" media=\"(max-width: 767px)\" srcset=\"data:,1w\" type=\"image\/webp\"><img decoding=\"async\" alt=\"Bank of Canada senior deputy governor Carolyn Rogers in Ottawa.\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=u9QTx9T766QNLnJEc0Tbig\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=288&amp;sig=u9QTx9T766QNLnJEc0Tbig,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=90&amp;strip=all&amp;w=576&amp;sig=vG3-ST9pUpzwODcdUv01-g 2x\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/no0328rogers.jpg?quality=5&amp;strip=all&amp;w=100&amp;sig=SLyJUJNC8ZOt_bvphVNEuw\" height=\"750\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"image-caption\"><span class=\"caption\"> Bank of Canada senior deputy governor Carolyn Rogers in Ottawa.<\/span> <span class=\"credit\">Photo by Adrian Wyld\/THE CANADIAN PRESS files<\/span><\/figcaption><\/figure>\n<p>Bank of Nova Scotia economist Rebekah Young, in an analysis released on March 21, said Canadian immigration policies need a reset, instead of a quick fix. She provided two theoretical scenarios in which productivity would have remained flat instead of declining in the past two years.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_7\">\n<section aria-describedby=\"advertisment9673922329893531899872436058849280\" class=\"ad\">\n<p>Advertisement 7<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-7\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"7\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-7\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The first was to restrict annual population growth to 350,000, instead of a million-plus. The second would be to increase business investment by a rare 15 per cent, which would equip people with the necessary tools to increase efficiency.<\/p>\n<p>Young added that while the decline in simple average productivity per capita is sharp, it isn\u2019t broadly based and most Canadian households are still better off today compared to pre-pandemic levels. It\u2019s mostly the newcomers filling low-wage positions who are getting the \u201cimmediate short end of the stick\u201d through skills-job mismatches, wage gaps and the high costs of finding a place to live, she said.<\/p>\n<p>Avery Shenfeld, chief economist at CIBC Capital Markets, said it\u2019s time to take a fresh look at the facts to cure the \u201cunderlying disease.\u201d In a note last week, he said Statistics Canada, with its \u201cfirm-level data,\u201d needs to take the lead.<\/p>\n<p>\u201cAre lower-cost, less-skilled temporary foreign workers undercutting Canada\u2019s output per hour, or incenting business to spend less on labour-saving technology? Adding immigrants with lower output per hour might not be a negative for the output per hour of those already here, even if it dilutes the average,\u201d he said.<\/p>\n<section aria-labelledby=\"moreTopicLabel1715746609244509439682747803107328\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" was=\"\" once=\"\" productive=\"\" and=\"\" competitive=\"\" but=\"\" not=\"\" today=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Prime Minister Justin Trudeau. Total factor productivity in Canada, under this current government in Ottawa, is now back to where it was a quarter-century ago, David Rosenberg says.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/trudeau-productivity-canada-1.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=JxJLymZB1b0rogGdMA5GeA\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/trudeau-productivity-canada-1.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=R5gj1BTmQI-rPxMcnMOy7w\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/trudeau-productivity-canada-1.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=JxJLymZB1b0rogGdMA5GeA, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/trudeau-productivity-canada-1.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=zaNZC5M5SFvrfFiXQD_Q9A 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/trudeau-productivity-canada-1.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=Ga4r2t__2zy6_nmIGh-11g 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canada was once productive and competitive, but not today<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" to=\"\" fix=\"\" canada=\"\" poor=\"\" productivity=\"\" performance=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Bank of Canada senior deputy governor Carolyn Rogers said on Tuesday it is time to \u201cbreak the emergency glass\u201d regarding the structural decline in Canadian productivity.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-productivity.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=qAt-Ky1l8_H5kgFGY9PrTg\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-productivity.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=79Lg5HmDfWhqZ3iyOp3Acg\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-productivity.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=qAt-Ky1l8_H5kgFGY9PrTg, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-productivity.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=MWR1p1wXP35SEycyIqDy_w 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-productivity.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=izJ9ljtWsjdYqbf_XGS8KA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">How to fix Canada&#8217;s poor productivity performance<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" says=\"\" canada=\"\" faces=\"\" a=\"\" productivity=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Bank of Canada\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-0326-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=xS9BmVkHKwbyRrbu4l8xig\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-0326-ph.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=Dzk5b_DRc0XfocOpIBgUZQ\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-0326-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=xS9BmVkHKwbyRrbu4l8xig, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-0326-ph.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=L_-7qL-Ysur875dYLH0CUg 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/03\/bank-of-canada-0326-ph.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=cgRych3hlnM-JjmINqVUcg 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">BoC says Canada faces a productivity &#8217;emergency&#8217;<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>\u201cGiven our heavy reliance on immigration to counter the drag of an aging population, this is another area where hard facts, not guesswork, are needed.\u201d<\/p>\n<p data-async=\"\"><em>\u2022 Email: nkarim@postmedia.com <\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Canada&#8217;s productivity &#8217;emergency&#8217; and the role newcomers play<\/a><br \/>\n<br \/>2024-04-01 10:00:21<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Labour productivity increased just once in past seven quarters Get the latest from Naimul Karim straight to your inbox Sign Up Published Apr 01, 2024&#8230;<\/p>\n","protected":false},"author":2,"featured_media":45443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-45442","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/45442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=45442"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/45442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/45443"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=45442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=45442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=45442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}