VIDEO: Productivity and Prosperity: Is Canada Keeping up with the Joneses?

  • December 04, 2019

B.C. Business Summit 2019 | November 20, 2019

Presentation by the Business Council of British Columbia's Vice President of Policy, David Williams, DPhil

How has Canada’s economy performed over the current business cycle compared to peer countries (the “Joneses”)? Is Canada keeping up with the Joneses?

The answer is clearly no: Canada’s economy is not keeping up with the Joneses. Canadians have seen the largest deterioration in living standards relative to peer countries over 2007 to 2018, according to OECD data. This is primarily because peer countries have increased their productivity by more than Canada.