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- Labour productivity of Canadian businesses increased 0.3% in the third quarter, following a 0.7% gain in the second quarter
Labour productivity of Canadian businesses increased 0.3% in the third quarter, following a 0.7% gain in the second quarter
This slower growth in productivity reflected the slowdown in business output, while hours worked rose after posting no change in the previous quarter.
Real gross domestic product (GDP) of businesses rose 0.5% in the third quarter, after increasing 0.7% in the second quarter. Output growth in the third quarter was moderated by a decrease in goods-producing businesses (-0.2%), with declines in construction and mining, quarrying and oil and gas extraction. Growth of service-producing businesses (+0.7%) continued at a similar pace as the previous quarter.
Hours worked in the business sector edged up 0.2% in the third quarter, following no change in the second quarter. The 0.5% increase in hours worked in service-producing businesses more than offset the 0.5% decline in goods-producing businesses. Hours worked increased in 9 of the 16 main industry sectors. Arts, entertainment and recreation (+3.1%) and transportation and warehousing services (+1.6%) posted the largest gains. Conversely, agriculture and forestry (-3.7%), real estate services (-1.1%) and the mining, quarrying and oil and gas extraction sector (-1.0%) showed the largest decreases.
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