These are just a couple of examples of positive policy moves. Canada's labour force has shown remarkable strength and flexibility, much more so than in previous decades. But more can be done to boost the flexibility of our labour markets. Let me now talk briefly about productivity. The need for Canada to focus on productivity is certainly not new.
Trend productivity growth has been subdued since the late 1970s and, unlike that of the United States, has failed to post a meaningful increase on a consistent basis over the past decade or so. There are a number of potential causes.