🔴 LIVE: The Secrets of ProPicks AI Success Revealed + November’s List FREEWatch Now

UPDATE 1-Canadian Q2 labor productivity drops 0.3 pct, hit by wildfires

Published 2016-09-02, 08:36 a/m
© Reuters.  UPDATE 1-Canadian Q2 labor productivity drops 0.3 pct, hit by wildfires

(Adds details of release, background)

OTTAWA, Sept 2 (Reuters) - The labor productivity of Canadian businesses in the second quarter of 2016 fell by 0.3 percent, reflecting the damage caused by a major wildfire in Alberta, Statistics Canada said on Friday.

The decline - the first in a year - was slightly less than the 0.4 percent drop forecast by market analysts in a Reuters poll. The fire in May forced the evacuation of Fort McMurray in northern Alberta and the temporary shutdown of several oil sands facilities.

Real gross domestic product of businesses fell by 0.8 percent in the second quarter after rising by 0.6 percent in the first quarter, pulled down by lower activity in the mining, quarrying and oil and gas extraction sector.

The impact of the fire on that sector also helps explain why the number of hours worked on production in the business sector fell by 0.5 percent - the first decrease in two years - after rising by 0.2 percent the previous quarter, Statscan said.

Overall labor costs per unit of production rose by 0.7 percent as the average pay per hour worked climbed by 0.4 percent and productivity slipped by 0.3 percent.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Graphic - Canada economic dashboard

http://graphics.thomsonreuters.com/15/sc-canada/index.html

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.