The Weekly Review, December 2 to 6, 2024

Productivity falls for a third consecutive quarter

Labour productivity of Canadian businesses fell 0.4% in the third quarter of 2024, after edging down by 0.1% in the second quarter and by 0.2% in the first quarter. The decline in productivity in the third quarter reflects the slowdown in the pace of growth in business output, while hours worked continued to increase at a rate fairly similar to that of the previous two quarters.

Source: Labour productivity, hourly compensation and unit labour cost, third quarter 2024

Accommodation services reach new all-time high operating revenue in 2023

The accommodation services subsector recorded a record-high operating revenue of $34.9 billion in 2023, marking a 17.6% increase from 2022 and a 29.0% rise compared with 2019. Growth should be more moderate moving forward, with COVID-19 pandemic impacts now being minimal.

Source: Accommodation services, 2023

Difficulties with sidewalks and wait lines are the most commonly cited barriers in public spaces in 2022

In 2022, among the 8 million Canadians with disabilities aged 15 years and over, approximately 4.5 million (56%) experienced one or more barriers to accessibility in public spaces at least sometimes during the 12 months prior to the Canadian Survey on Disability. The most common features with which they experienced barriers were "sidewalks when covered in ice or snow" (36%), "wait lines" (31%) and "sidewalks in general" (26%).

Source: Barriers to Accessibility in Canada: Public Spaces, 2022

Highest number of accidental drug poisoning deaths ever recorded in 2023

There were 326,571 total deaths in Canada in 2023, a 2.4% decrease from 2022. This trend was reflected in most provinces and territories. In 2023, there were 7,162 accidental drug poisoning deaths; the highest number of deaths ever recorded. The total number of these deaths in 2023 surpassed the previously reported high levels observed during the pandemic (6,774 in 2021 and 5,645 in 2022).

Source: Deaths, 2023

Unemployment rate rises to 6.8% in November 2024

Employment increased by 51,000 (+0.2%) in November 2024 and the employment rate held steady at 60.6%. The unemployment rate rose 0.3 percentage points to 6.8%, as more people looked for work. The unemployment rate in November was the highest rate since January 2017 (excluding the years 2020 and 2021, during the COVID-19 pandemic). The unemployment rate has trended up since April 2023, rising 1.7 percentage points over the period.

Source: Labour Force Survey, November 2024

First increase in exports since June 2024

After three consecutive monthly declines, total exports were up 1.1% in October 2024. Despite the increase, 8 of the 11 product sections were down in the month. Higher prices were partly responsible for the monthly increase in exports; in real (or volume) terms, total exports rose 0.4%.

Source: Canadian international merchandise trade, October 2024

Retail sales decline on an annual basis in September 2024

Retail sales reached $65.7 billion in September 2024, a decrease of 2.2% compared with the same month one year earlier. Lower sales were reported in 12 of the 18 commodity classes. In September, the largest decline in dollar terms came from sales of automotive and household fuels (-12.7%).

Source: Retail Commodity Survey, September 2024

Canadian Christmas trees travel near and far

Not all Christmas trees grown in Canada will stay here. Canada exported over 2.0 million fresh Christmas trees in 2023, most (96.5%) of which ended up in the United States, while most of the remaining exported Christmas trees were off to warmer climates in the Western Hemisphere. Cash receipts received by Canadian Christmas tree producers totalled just over $189 million in 2023.

Source: Oh Christmas tree, oh Christmas tree