Last week was pivotal for economic indicators. The Bank of Canada has opted to maintain its benchmark interest rate steady, while recent data revealed that inflation in the U.S. is accelerating again.
The U.S. economy appears robust, which sharply contrasts with Canada, where there is an anticipatory hope for a “soft landing”—a scenario that includes avoiding recession while achieving full employment. However, the economic data from Canada indicate significant headwinds in productivity and wealth creation.
It takes approximately four private sector jobs to sustain one public sector position.
Is there a productivity crisis in Canada? Absolutely. https://t.co/rqHQ9YxJsh
— The Food Professor (@FoodProfessor) April 15, 2024
