BoostNB

New Brunswick should aim to have a labour force participation rate equal to or higher than the national rate by 2028.

• New Brunswick had a participation rate 1.1% lower than the Canadian average in 2021.
• Over the past ten years, this number has been an average of 1.3%.
• New Brunswick’s labour force is significantly older than Canada’s as a whole.
• Those aged 45-64 make up the largest portion of the labour force in New Brunswick but across Canada, the 25-44 age group is the largest.
• Since 2019 New Brunswickers in the age group of 15-24 years have participated at a significantly higher rate than Canada as a whole, but those aged 45-64 continue to display much lower participation rates than their cohort across Canada

Check out the full BoostNB report on Labour Force Participation Rate: https://buff.ly/3R5txqb

Welcome to BoostNB’s Economics 101: Labour Productivity!

Labour productivity is important for improving production efficiency and stimulating economic growth.

Labour productivity measures the hourly output (GDP) of a country/region’s economy. Higher labour productivity would require higher physical and human capital as well as new, advanced technology. In 2021, New Brunswick had total labour productivity of $50.50 per labour hour which was $11 per labour hour lower than the national average.

Labour productivity is an important economic indicator that presents the progress of the economy through the progression of technology and investment in equipment, plants, and intelligence.

For more, you can always check out www.boostnb.com