Canada would have 300 000 workers more, imitating the Quebec, according to Stephen Poloz

News 13 March, 2018
  • Archival Photo, QMI AGENCY
    Stephen Poloz

    Maxime Huard

    Tuesday, 13 march 2018 14:52

    Tuesday, 13 march 2018 14:52

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    OTTAWA – Around 300 000 more women could participate in the labour market in the country if the rest of Canada was inspired by Québec in the area of childcare and parental leave, according to the governor of the Bank of Canada.

    In a speech to students of Queen’s University, Kingston, Ontario, Stephen Poloz insisted on Tuesday on the importance of bringing the largest number of people to participate in the labour market in the face of a context of shortage of labour.

    “If we could just bring the activity rate of women aged 25 to 54, the rest of the country to the level of that of Quebec, it would already grow almost 300, 000 people in the active population of Canada,” he observed, pointing out that some of the measures in the last federal budget went in this direction.

    The governor of the Bank has in particular called upon to reduce the gap between the activity rates of men and women in Canada, respectively, 91 % and 83 %.

    “This gap may shrink. Think of Quebec, where, twenty years ago, the activity rate of women in the force of age was about 74 %. The provincial government has identified the barriers preventing women from integrating into the labour market and has taken steps to reduce them, including by reducing the cost of child care services and expanding provisions relating to parental leave,” said Mr. Poloz.

    The governor recalled that in a few years, Quebec women have outpaced women in the rest of Canada, with an activity rate, which now stands at 87 %.

    The Bank of Canada reports for some time of untapped potential on the canadian labour market. In addition to women, youth and aboriginal people are part of groups which greater participation would stimulate economic growth without increasing inflation.

    In total, the governor of the Bank assesses that the working population could grow to 500,000 people in the country, which would represent an increase of 1.5 %, or $ 30 billion per year, of canadian production.

    “This would be equivalent to a permanent increase of the production corresponding to almost $ 1,000 per Canadian per year, and this, without taking into account possible investments and productivity gains that would be associated with such an expansion of the supply of labour. Obviously, the game is worth the candle”, has analyzed Mr. Poloz.