Wednesday, November 23, 2011

Canadian productivity up -- so what

I'm no fan of the productivity numbers, especially since services is such an important percentage of the modern economy.  American productivity has always been better than Canada's there are a number of reasons for this, but my bet is that the guys who processed the mortgaged that polluted the CDO and CDO square cut corner and added to productivity -- somehow the mess that has to be taken apart today is not part of the "productivity equation".  Measuring productivity when you are making widgets is easy -- look at input costs and output, and if the ratio changes in the right direction: Voila!.  Measuring productivity when you offer services is a lot harder.

Best example of how stupid the numbers are Nunavut (where 65,000 people live) saw an 11.5% increase in productivity, while the NWT saw productivity decline....

Anyway the table below says it all:
Canada Productivity Gain 2009 - 2010
  Labour productivity in the business sector by province and territory, 2010

There you go, very exiting stuff, productivity is up!


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