B.C.’s productivity gap with the rest of Canada has narrowed as the country’s overall productivity has slowed considerably since the start of this century, according to the Business Council of British Columbia (BCBC).
Its November 16 report noted that growth in Canadian real gross domestic product (GDP) per person, a key measure of living standards, has dropped since the 1960s. Prior to 2000, Canadian incomes were doubling in roughly 30 years (one generation). But the BCBC report noted that, at recent growth rates, the same standard of living increase would now take four to five generations.
