The FINANCIAL — Canada labor productivity declined in the first quarter — the first quarter-over-quarter drop in a year — as economic output and hours worked fell, Statistics Canada said on June 5, according to Nasdaq.
Labor productivity edged down 0.1% in the January-to-March period from the previous quarter. Traders anticipated a 0.2% decline, according to economists at Royal Bank of Canada.
Unit labor costs increased 1.2%, while hours worked declined 0.2%.
In the U.S., labor productivity declined 0.8% in the first quarter on a comparable, or non-annualized, basis.
Last week, the data agency said Canada’s real gross domestic product fell 0.6% on an annualized basis, or the worst quarterly performance for the Canadian economy in the post-crisis era.
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