An initiative of the economists at Memorial University in Newfoundland and Labrador, Canada representing their professional work and opinions.
PRODUCTIVITY LEVELS AMONGST THE PROVINCES: In 2010, NL leads the pack! How long can the myths of low productivity continue?
Fuelled by the Oil Boom, Newfoundland and Labrador Lead Canadian Productivity Growth
The Centre for the Study of Living Standards today released a major study entitled "Newfoundland and Labrador's Productivity Performance, 1997-2010: The Impact of the Oil Boom."(pdf 3.6MB ) The study was funded by the Collaboration for Applied Research in Economics (CARE) initiative of the Department of Economics at Memorial University. Key findings from the study are highlighted below.
Newfoundland and Labrador's economy has experienced impressive growth in recent years. Real GDP in the province's business sector increased at nearly twice the rate of Canada's (4.55 per cent vs. 2.50 per cent per year) between 1997 and 2010, while the province's labour productivity growth was more than three times greater than Canada's (3.86 per cent vs. 1.29 per cent).
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