The recession might have slammed the economy last year, but B.C. replied with a simple solution – hard work.
According to a Statistics Canada report released Friday, business productivity in B.C. rebounded 1.2% in 2009 after two consecutive annual decreases.
The increase came while productivity across the country remained unchanged in 2009, following a 0.8% slide the year before.
Still, B.C. did face some productivity challenges.
For example, the real GDP of businesses in B.C. was down 3.9% in 2009 while hours worked declined 5.2%.
“The weakness in real GDP was due primarily to manufacturing and forestry,” Statistics Canada said. “The main contributors to the decrease in hours worked were forestry, mining, construction, manufacturing and wholesale trade.”
In terms of the amount of money workers earned in 2009, hourly compensation in B.C. was up 2.2% year-over-year while total compensation was down 3.1%.
The statistical agency said businesses across Canada adjusted to the economic downturn in 2009 by “sharply” reducing the amount of hours workers put in, but the weakness in output and employment occurred mostly in the first half of the year.