Canada: unit labor cost 2023, by industry
This statistic shows unit labor costs in Canada in 2023, distinguished by industry. In 2023, unit labor costs in the Canadian construction industry amounted to 0.95 Canadian dollars per unit of real GDP.
Labor Productivity
Labor productivity or workforce productivity is the measure of value added to the economy relative to the number of hours worked for production. It is most often measured as output per hour of labor. Labor productivity is a commonly used indicator of overall economic health, growth, and efficiency. Growth of productivity is of crucial influence on the standard of living in a society. Increased productivity should lead to higher salaries for workers as well as lower prices for consumers.
Labor productivity in the business sector in Canada increased by around 20 percent from 2000 to 2023, standing at 59.1 Canadian dollars added to the GDP per hour worked in 2023. The non-profit institutions were, by far, the most productive in 2023, adding 212.7 Canadian dollars to the GDP per hour worked.