In a March 2024 speech, Bank of Canada Senior Deputy Governor Carolyn Rogers warned that Canada’s weak productivity growth threatened future living standards and the economy’s ability to grow without renewed inflation. She said Canadian output per hour had fallen further behind the United States and pointed to insufficient business investment and limited competition as major concerns. Rogers called for improvements in investment, worker skills, and the use of newcomers’ qualifications. Her remarks framed productivity as a pressing economic challenge rather than a short-term fluctuation.
