This paper discusses how to improve Canada’s business innovation in order to boost labour productivity and output growth. Many general framework conditions are highly favourable to business risk taking and innovation, including macro stability, openness, strong human capital, low corporate tax rates, low barriers to firm entry and flexible labour markets.
The tertiary education system in Canada performs well in fostering a skilled workforce with generally good labour market outcomes and is internationally recognised for its research contributions.
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Canada ranks first among OECD countries in the proportion of adults with a college (tertiary-type 5B) education (24%) and ranks 8th in the proportion of adults with a university (tertiary-type 5A) education (26%).
English, PDF, 78kb
The recovery of the Canadian labour market is well under way. The unemployment rate (ILO definition) fell by more than one percentage point to 7.2% in June 2012, since peaking at 8.5% in the third quarter of 2009.
Canada has weathered the global economic crisis comparatively well but will have to become more productive to sustain its high standard of living, according to OECD’s latest Economic Survey of Canada.
This study examines trends in and key features of policies and programmes used by governments to support innovation in the business sector.
A. Gurría said that attracting enough high-skilled candidates for some countries may require introducing elements of supply, as well as demand-driven migration in their immigration regimes.
The global recovery is becoming self-sustained and more broad-based but is taking place at different speeds across countries and regions. Tackling high unemployment, fiscal consolidation and global imbalances remain the key challenges, says OECD Secretary-General.
"Canada and the OECD have been working together for five decades to produce better policies for better lives. We must use this partnership to reshape the global economy according to new values of inclusiveness, environmental respect and creative interdependence", said Mr. Gurría.