Canada fourth-quarter labor productivity rises by 0.4 percent; more hours worked
OTTAWA (Reuters) - The labor productivity of Canadian businesses rose 0.4 percent in the fourth quarter as the number of hours worked edged up after two consecutive declines, Statistics Canada said on Wednesday.
Third-quarter productivity had jumped by 1.2 percent as the economy recovered from the effects of a major wildfire in the energy-producing province of Alberta.
Real gross domestic product of businesses rose by 0.7 percent in the fourth quarter after increasing by 1.1 percent in the third quarter, pushed up by activity in the mining, quarrying, and oil and gas extraction sector.
The number of hours worked on production in the business sector rose by 0.4 percent, largely due to gains in finance and insurance, professional services and administrative services.
Overall labor costs per unit of production rose by 0.7 percent as the average pay per hour worked climbed by 1.0 percent.
(Reporting by David Ljunggren; Editing by Lisa Von Ahn)
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