We’ve seen a steady erosion of per-capita GDP growth and persistent government deficits.
A lower employment rate also has implications for government finances.
Research finds that AI will increase labour productivity and boost global economic output by 5 to 7 per cent.
The overall employment rate hasn’t recovered to 2019 pre-COVID levels.
Despite a robust recovery in employment for working-age Canadians, the overall employment rate remains below pre-pandemic levels.
At 3.8 per cent, Canada’s inflation rate for 2021 is expected to rank 6th highest among 35 IMF advanced economies.
Investment in machinery, equipment, factories, intellectual property and other assets declined by 17.3 per cent.
Capital investment is a major source of labour productivity growth, particularly in Canada.