Canada’s Productivity Crisis at “Emergency” Level

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In this episode, Carolyn Rogers of the Bank of Canada alarms over a nationwide "emergency situation" related to Canada's slipping performance and financial investment levels, presenting dangers to inflation management and living standards, and comparing badly to the United States and G7 nations.

Also in this episode:
Ontario's Financing Minister unveils the 2024-25 spending plan, dealing with financial challenges however appealing investment without raising taxes or charges.

The Bank of Canada mean future rates of interest cuts, based on financial conditions and inflation trends, in the middle of divided council viewpoints.

Canada Goose reveals a 17% decrease in its international business workforce as a strategic step towards effectiveness and future scaling.

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Canada's Productivity Crisis at "Emergency" Level

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About the Author: Richard Money

30 Comments

    1. The provinces create most of their own business skippy.. not really what the feds do, but thanks for commenting without thinking

  1. We have doctors driving Ubers and my barber is a trained engineer. We need to get better at this. It’s a waste.

    1. Reality is neither are likely to be capable.

      A doctor in India is highly unlikely to have the same standards as Canada. Also language. Sweet jesus they simply can not communicate.

    2. ​@@shelterskelter lol tell that to your self, if they studied in certain colleges then they are better than what you have here .Here Dr knows only 1 magic cure for everything Tylenol 😂
      Just because someone can’t speak English properly that doesn’t me he is bad at his job buy in this case I will give you because a Dr needs to communicate properly that is his job.

    3. @@shelterskelter They absolutely are of the same standard!! However, they do need to be Canadianized – customs and language etc and sure do a year practicum/write a test. But not keep them as janitors for 20 years smh. The point is to help them so they can be working Canadian doctors asap!!!

  2. Another major problem is the Canadian brain drain. For the last 10 years our top talent has been lured south of the border. Canada is just a stepping stone for the US.

    1. That’s been the case for the entire history of Canada. But it does mean that we need to pay the top talent quite a bit more if we want to grow economic sectors like tech.

    2. In addition, we don’t have enough investments and companies to provide opportunities to keep talents. Just figuratively speaking, US has more available top positions than Canada. For example, while10 people may be competing for 7 positions in US where as in Canada, we may have 10 people competing for 2 positions.

    3. Were high-level tech workers, why would we want to stay in Canada, there’s no reason. It’s embarrassing.

  3. Its going to be a long hard road to pull ourselves out of this catastrophic hole we’ve been digging for the past decade. I’m not even sure we’ll be able to achieve it considering how inept and outright corrupt ALL our politicals are.

  4. Productivity doesn’t matter if people can’t afford to buy the things being produced, that’s the one thing nobody talks about when they talk about productivity. You make money by selling things, not making things, so if the things you produce don’t sell, the economy fails… and top earners are greedy, they won’t lower costs with higher productivity, they’ll raise prices even more because they can, and just take home a bigger paycheck.

  5. I’m not surprised by the productivity issue especially with regards to integrating immigrants into the workforce. Discriminatory hiring practices are rampant out there.

  6. Thank you for the video! I think Carolyn Rogers is right. Our economy has been drifting away from what it should be for quite some time (more than ten years at least), and now it’s finally gotten to the point where the Bank of Canada is willing to say something out loud.

    We currently have a population of over 40 million people, but our economy is more parochial and less diverse than when had 30 million. There’s too much centralization, too many assets in too few hands. The companies are too large for an economy of our size, and there isn’t enough competition. But does anyone in government see this? They all made their careers in this century when the destructive trends were happening but the effects weren’t obvious. They’re like the proverbial frogs in a slowly boiling pot. I’m not sure any current politician is even capable of perceiving the problem, much less figuring out any possible solutions.

  7. I see a Tim Hortons worker taking out trash out the back using a wheel barrow with a flat broken tire. Thats how it is here, employers don’t invest much into worker productivity here.

  8. Canada low productivity long times ago, which shown Canadian officials are really low quality. For sure BoC will drop rate as something are going really bad…Canada most likely become Venezuela

  9. Well when the government thinks they can do everything this is what happens. The government should be downsized massively. Get the government out of healthcare too. Our system is garbage now.

  10. As a tradesmen we’re not even close to the monsterous crisis coming as nobody’s coming in to replace the boomer retirements. Buckle up. Housing crisis will become an epidemic of catastrophic proportions as nobody is left to build. Who would want to get into trades!? Underpaid, unappreciated and Building homes they’ll never be able to own! Govt has failed us. The tradesmen left will be the new tech boom but burnt out as well

  11. Canada Goose reason isn’t only due to warmer winter… It’s because their high price with crappy lifetime warranty refuse to repair calling it normal wear and tear isn’t covered. With the cost of living skyrocketed in recent years, people rather spend on things that are worthwhile, not on 4 digit winter coats that we only use 3 months every year.

  12. Brain drain is real. If talent isn’t leaving to the US they’re going anywhere else. We had 2 young & accredited professionals leave recently to pursue opportunities outside of Canada.

  13. Maybe we can ban some more pipelines, hire a larger number of government workers, refuse to work with other countries desperate for LNG, and increase our government debt.

    If that doesn’t work, I’m totally out of ideas for increasing our productivity.

  14. According to Statistics Canada, In 2022, businesses with 1 to 99 employees comprised 98.0% of all employer businesses in Canada and employed almost two-thirds (63.0%) of all employees. Small businesses are facing more changelings in the current economic situation, less likely to hire – nearly half of businesses with 1 to 19 employees (45.0%) had no plans regarding recruitment, retention and training over the next 12 months. With the infusion of large number of immigrants, it is no surprise that it would be too good for them to even get a job!

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