Canadians enjoy a high level of well-being. On all eleven components of the OECD’s
Better Life Index, Canada performs better than the OECD average. The economy and labour
markets stood up better than those of most OECD countries to the ravages of the global
financial crisis. Still, there are some areas where the country can do even better.
Canada needs to improve its productivity performance, building on the recent increased
growth in labour productivity to narrow the gap with top-performing OECD countries
in terms of the level of productivity. The productivity gap with the United States
is particularly large for small and medium-sized enterprises. Productivity growth
could also be more inclusive. People from socially disadvantaged backgrounds and Indigenous
communities currently do not participate to the extent that they should in the country’s
strong economic performance. Finally, Canada needs to make growth greener, in order
to contribute its fair share to the global fight against climate change.