White Paper: Why productivity should be a priority for British Columbian and Canadian governments

November 1, 2022

Tight labour market conditions that prevailed before the pandemic have returned and are creating new challenges for governments seeking to measure economic progress. Last year, more than 160,000 jobs were created in British Columbia and the province currently has the lowest unemployment rate in the nation. The B.C. Labour Market Outlook also forecasts that over one million new jobs will be created by the year 2031.1 Yet, these positive numbers mask an uncomfortable reality: an aging population is putting increasing pressure on employers to replace retiring workers.

The Labour Market Outlook projects that even after accounting for reduced unemployment, young people entering the workforce, new immigrants and in-migrants from other provinces, B.C. is facing a supply gap of 83,000 workers over the next 10 years. If these jobs aren’t filled or replaced, the province’s Gross Domestic Product (GDP) by 2031 will be 2.6% lower than if they had been filled. 

So, where do we find these workers? Perhaps the better question is how can we make our existing workers more productive?

Read our new white paper by Deetken Partner Julian Whike who explains why B.C. and Canadian governments should focus on labour productivity, not just job growth, when measuring and stimulating economic growth.

 

 

Related Posts

Deetken Insight Names Robin Shaban as Associate Partner

Deetken Insight Names Robin Shaban as Associate Partner

Award-Winning Economist and Policy Analyst, Robin will Help Grow Deetken’s Presence in Ontario Vancouver, B.C. and Ottawa, O.N. – February 5, 2024 – Deetken Insight (“Deetken”), a management consulting firm headquartered in Vancouver, is pleased to announce it has...

read more
Deetken Expands Data Science Toolkit with Alteryx Partnership

Deetken Expands Data Science Toolkit with Alteryx Partnership

Deetken is proud to announce that we are continuing to expand our data science capabilities through a partnership with Alteryx, the Analytics Cloud Platform company. As a member of the Alteryx partner community, Deetken demonstrates its analytics maturity with its...

read more
Meet the Team: Jen Kanters

Meet the Team: Jen Kanters

For our latest Meet the Team interview, we are proud to introduce Jen Kanters. Jen joined Deetken in August 2022 as a Senior Consultant.  Jen charted an unusual path to Deetken, bringing with her nearly 15 years of valuable experience in the non-profit sector....

read more

The Deetken Group
Suite 500 -- 210 W. Broadway
Vancouver, British Columbia
Canada V5Y 3W2

Also locations in: Victoria - Edmonton - Ottawa - Los Angeles