Canada: unit labor cost 2022, by industry
Labor Productivity
Labor productivity or workforce productivity is the measure of value added to the economy relative to the number of hours worked for production. It is most often measured as output per hour of labor. Labor productivity is a commonly used indicator of overall economic health, growth, and efficiency. Growth of productivity is of crucial influence on the standard of living in a society. Increased productivity should lead to higher salaries for workers as well as lower prices for consumers.
Labor productivity in the business sector in Canada increased by around 20 percent from 2000 to 2022, standing at 57.6 Canadian dollars added to the GDP per hour worked in 2022. The mining and oil and gas extraction industry was, by far, the most productive in 2022, adding 293.5 Canadian dollars to the GDP per hour worked. Unsurprisingly, it was mostly the territories and provinces most involved in mining, oil and gas extraction that were the most productive. The notable exception is Nunavut, the most productive territory in Canada, whose greatest productivity lies in real estate, rental and leasing.