Helping the economy after the COVID‑19 pandemic

Boosting productivity is now more important than ever

We need more growth in the economy to raise living standards for everyone. Economic growth can help create jobs, which will reduce the damage from scarring in the workforce. An important way to boost the potential for growth is to increase productivity.

The good news is that Canadians are showing they can innovate. Think about how quickly companies organized office staff to work remotely during the pandemic, or how quickly supply chains were restructured to provide medical equipment. Canada needs to take advantage of these kinds of innovations to raise productivity.

News – Bank of Canada