Canadian Macro-Economic Trends: Less is Less

Data collected by the government of Canada, if Canadians still believe such “fairy tales” considering drug costs per citizen is now higher than hospital and doctor expenses covered by the government, shows that labor productivity is “higher than real hourly compensation”. A neat sales tact if you don’t show that overall the entire cake is shrinking. “Real Gross Domestic Product” has shrunk tremendously and “Real Hours” worked exceeds hourly productivity. Aging Canadians have slowed down as have the industries they are in-just as new economies are failing to step in.

This is the lesser known picture (followed by the more popular picture) of the economy.

Trend in real gross domestic product, labour productivity and hours worked, business sector
Trend in real gross domestic product, labour productivity and hours worked, business sector

 

Growth in labour productivity and real compensation, business sector
Growth in labour productivity and real compensation, business sector

Both are at the Government of Canada website (link). And back to the original comment regarding fast rising drug costs (use).

Drug costs rising fast in Canadian health-care spending, report finds
Drug costs rising fast in Canadian health-care spending, report finds