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December 06, 2023CANADA BUSINESS SECTOR LABOUR PRODUCTIVITY, Q3 2023 
Labour productivity of Canadian businesses declined at a seasonally adjusted annualized rate of 3.1% from Q2 2023 to Q3 2023. Hours worked increased by 0.4% and output was down 2.7%.
This was the sixth consecutive decline in labour productivity and the twelfth decline in the last 13 quarters since productivity spiked in the early waves of the COVID-19 pandemic as employment loss was concentrated in lower-productivity industries.
Total compensation per hour increased at a seasonally adjusted annualized rate of 3.3% in Q3 2023, the seventh consecutive increase after a slight decline at the end of 2021. Growth in employee compensation combined with a decline in productivity resulted in 6.6% annualized growth in unit labour costs of Canadian businesses in Q3 2023. This was the twelfth consecutive quarterly increase in the unit labour cost.
Statistics Canada. Table 36-10-0206-01 Indexes of business sector labour productivity, unit labour cost and related variables
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