This webinar with the Conference Board’s Chief Economist will focus on Canada’s most important challenge—generating growth in a labour constrained economy.
Many developed economies are feeling the pinch of labour constraints and Canada is no exception. In 2019, Canada’s unemployment rate averaged a record low of 5.7 per cent, job vacancies swelled to 563,000 (in the third quarter) and average wages soared by an estimated 4.7 per cent—2.8 percentage points above inflation! While the situation is favourable for workers, the pendulum has swung too far. The challenges employers are facing finding workers will hold back economic growth and, for some firms, discourage investment.