If productivity increases by 2%, each year, between 2018 and 2030, the average Canadian worker could make more money, while having a three-day weekend
EDMONTON — Canada could achieve a four-day work week and not change its standard of living — if workers managed to up their productivity by a couple of percentage points each year, and keep at it for the next decade, argues a new report from The Fraser Institute.
Between 1961 and 2012, productivity did grow at roughly two per cent, but there has been a subsequent slowdown in productivity growth, which, the report argues, “has limited the ability of Canadians to maintain their real standards of living while working fewer hours.” There has been a decrease in work hours over the past couple decades. Between 2000 and 2018, data from Statistics Canada shows Canadians have worked roughly 80 fewer hours per year, while in the same period, wages have increased from $54,799 to $61,691 on average, resulting in a 13 per cent increase in annual wages.
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