Canada Labour Productivity q/q

Canada Labour Productivity q/q measures the quarterly change in output produced for each unit of labour input, commonly hours worked. It is not an employment, unemployment or wage release. Productivity helps explain how output growth is split between more hours and more efficient use of labour, and it is relevant to unit-labour-cost and inflation analysis over time. A single quarter can be volatile because output and hours are both revised and affected by sector mix. Read the result with GDP, hours worked, compensation, unit labour costs and multi-quarter trends. Markets may use a sizeable surprise to reassess cost-pressure and growth narratives for the Bank of Canada and CAD, but productivity alone does not prescribe monetary policy.