However, the challenge that already existed before the pandemic will also remain even after the negative pandemic shock to the inflation path is offset: the timely convergence of inflation to our aim.
The latest available data show that Canadians who change jobs are seeing their wages rise by 12 to 14 percent. There is little doubt that this job switching is raising productivity in the economy, and the latest data do indeed show a rising trend in productivity. There is more. It is taking less time on average for unemployed people to find jobs.