COMM 226 Chapter Notes - Chapter 3: Gross Domestic Product, The Conference Board, Stephen S. Roach
7 May 2015
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Document Summary
Productivity or labour productivity is the ratio of the canadian gross domestic product (gdp) over the total paid hours worked by canadians. It measure the value that canadian workers generate per hour. Productivity is important issue that we need to think about. The conference board of canada has suggested that labour productivity is the primary indicator of our per capita income. The increasing labour productivity is the best measure of canada"s future growth. Increasing productivity is not necessarily about working harder or spending more hours working. The fact is that even if canadian employees worked more intensely, canada would still not have addressed its productivity issue. Increasing productivity in our current global economy is all about working smarter. What will determine a country"s level of productivity in the future is the ability of the country to innovate and adapt to changing economic conditions.
