Performance Indicator 2: Productivity
Where BC Ranks, Provincial Comparison |
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| Performance Indicator Two tracks the inflation-adjusted value of Gross Domestic Product per hour worked in the business sector of the economy. |
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| In the three years between 1997 and 2000, BC’s productivity grew by 6.3 percent, slightly more than in the ten years from 2000 to 2010. Productivity in BC was more or less stagnant in the beginning of the 2000s, grew 3.4 percent from 2004 to 2006, declined by 3.8 percent the following two years and grew 3.1 percent from 2008 to 2010. Canada did not experience a mid-decade decline, widening the Canada-BC productivity gap. BC’s productivity grew 13 percent between 1997 and 2010, ahead of only Alberta at ten percent. |
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| There are several detailed reports on productivity in BC available on our website. |
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Why It's Important
In its simplest terms, productivity determines how much a jurisdiction can produce and consume given finite resources. For a business, surviving in competitive markets means being as productive as possible; that is, producing as much output per unit of capital and labour as possible. For an individual worker, productivity levels ultimately determine the wage they can demand in a market. And at a broad societal level, productivity holds the key to funding critical public services such as infrastructure, health care, education and other social services that are fundamental to a high quality of life. |
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