Macklem Urges Investment in Labor Force to address Productivity

Bank of Canada Governor Tiff Macklem warns of Canada’s productivity problem, urging policy-makers to address low business investment. Speaking to the Winnipeg Chamber of Commerce, he highlighted Canada’s strong job market but noted productivity as a weakness, with businesses investing less per worker than in the U.S. Improving productivity is critical for economic growth and higher living standards, especially with an aging population and immigration limits.