Business productivity was unchanged in Alberta in 2018, following a rebound of 3.3 per cent in 2017, according to a report released on Wednesday by Statistics Canada.
“Productivity growth in goods-producing businesses (+5.3 per cent) was completely offset by a decline in the productivity of service-producing businesses (-2.9 per cent). Finance and insurance, as well as professional services, dampened productivity growth. In 2018, business production and hours worked both increased 2.3 per cent. Hours worked in service-producing businesses posted their largest increase (+4.7 per cent) in seven years,” said the federal agency.
StatsCan said labour productivity is a measure of real gross domestic product per hour worked. Productivity gains occur when the production of goods and services grows faster than the volume of work dedicated to their production.
It said business productivity rose in four provinces and every territory in 2018. Nationally, productivity was unchanged in 2018, following a 2.2 per cent increase in 2017.
“The results of provincial productivity performance were mixed in 2018. British Columbia (+1.2 per cent), Saskatchewan (+1.1 per cent) and Manitoba (+1.1 per cent) all posted productivity growth above 1.0 per cent. Quebec (+0.4 per cent) also saw positive growth, though it was modest. In New Brunswick and Alberta, productivity was unchanged from 2017, while it edged down in Ontario (-0.2 per cent) and Prince Edward Island (-0.3 per cent). In contrast, Newfoundland and Labrador (-4.1 per cent) and Nova Scotia (-3.0 per cent) saw declines in their productivity,” added StatsCan.
– Mario Toneguzzi