ICBA ECONOMICS: Thoughts on Canada’s Productivity Crisis

By Jock Finlayson, ICBA Chief Economist With the 2024 federal budget due to be delivered on April 16th, now is a good time to summarize the major economic challenges facing Canada. ICBA Economics believes that two challenges stand out, and they are closely linked:...

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💰 GDP per capita flatlines.💸 Productivity stagnates. 📉 Output per hour has fallen in 11 of the past 14 quarters – an unprecedented development, and one not replicated in the U.S. or most other advanced economies.It's a grim situation for the Canadian economy, and one next week's federal budget must address, says ICBA Chief Economist Jock Finlayson.Read his budget preview blog at www.icbaindependent.ca/2024/04/11/icba-economics-thoughts-on-canadas-productivity-crisis/. (WARNING: the stats may cause heartburn and heartache for those wanting to see Canadian prosperity grow.) ... See MoreSee Less
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WELLNESS WEDNESDAY #145: Thank a Construction Worker!April is Construction Month in B.C., and as gratitude is an important part of practicing mental wellness, we’d like to take this opportunity to thank all of our construction professionals across B.C., Alberta and the rest of Canada.Your hard work, dedication, expertise and knowledge are appreciated – thanks for building the homes, roads, hospitals, schools, infrastructure, shops, bridges, and all the other things that make our communities better.And you do it every day, rain or shine (let’s face it – mainly rain in much of B.C.), creating the spaces where our lives unfold. Your efforts contribute a lot to our community’s growth, safety, and well-being.Thanks for everything you do! ----------Each week, ICBA’s Jordan Bateman reflects on what we’ve learned as we participate in ICBA’s Workplace Wellness Program. ICBA’s Workplace Wellness Program is helping more than 100 companies and more than 10,000 construction professionals better understand mental health. This program is free for all ICBA members – check out icba.ca/wellness for details. ... See MoreSee Less
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Are you attending this year's First Nations Major Projects Coalition conference in Toronto April 22-23? Our Chris Gardner will be there, participating in the critical discussions that will frame our nation’s future economy, augmenting the corporate and public sectors with Indigenous leadership and values to achieving our shared climate and energy mandates. ICBA is a proud partner of FNMPC.Don't miss this opportunity to connect with like-minded individuals and gain valuable insights from over 1000+ Indigenous, industry, and government experts towards building a more sustainable and equitable future for all. Register now at: www.fnmpc.ca/conference/#FNMPC2024 ... See MoreSee Less
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ICBA Chief Economist Jock Finlayson looked into B.C.'s head office numbers and found more worrying signs about the provincial economy:"B.C. can ill afford to see its already feeble head office sector shrink. While B.C. is home to 14% of Canada’s population, we host only 12% of the country’s head offices and account for just 7% of nation-wide head office employment."Look slightly east and you see how grim it is in B.C.: "Alberta, with 800,000 fewer people, outperforms B.C. on both metrics, hosting 14% of the country’s headquarters and 12% of all direct Canadian head office jobs." Read Jock's full blog at www.icbaindependent.ca/2024/04/09/icba-economics-the-role-of-the-construction-and-real-estate-ind... ... See MoreSee Less
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ICBA Wellness ambassador Corey Hirsch Official is in Winnipeg to talk to Merit Contractors Association of Manitoba's MD Steele Construction -- and (unsurprisingly) he found time to squeeze in a Jets game with an old friend! ... See MoreSee Less
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WELLNESS WEDNESDAY #145: Thank a Construction Worker!

April is Construction Month in B.C., and as gratitude is an important part of practicing mental wellness, we’d like to take this opportunity to thank all of our construction professionals... More at https://www.icbaindependent.ca/2024/04/10/wellness-wednesday-145-thank-a-construction-worker/

ICBA Chief Economist Jock Finlayson looked into B.C.'s head office numbers and found worrying signs:

"B.C. can ill afford to see its already feeble head office sector shrink. While B.C. is home to 14% of Canada’s population, we host only 12% of the country’s head offices and…

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