(Bloomberg) — Canada’s immigration-driven population boom gets credit for driving employment gains, bolstering housing markets and keeping the nation’s expansion running.
But it’s also masking a deeper economic problem that will hamper the nation’s long-term growth: sluggish productivity gains.
Over the past two years Canada’s productivity hasn’t grown at all. And while the latest data due this week is poised to show a pick-up, it’s likely not sustainable, according to Bank of Montreal Chief Economist Doug Porter.“When you look at Canada’s overall growth rate it’s basically just keeping pace with population growth and not much else,” Porter said, citing meager business […]
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