It is rare for the Bank of Canada to say that we face a national economic emergency. But that is exactly what Deputy Governor Carolyn Rogers did on March 26. She was referring to Canada’s dismal record on labour productivity, which is indeed a major, albeit long-standing issue. Her widely publicized speech put a sharper focus on very weak Canadian economic performance, especially relative to the US.
You’re saying that our economy is addicted to using low wage earners (like TFWs) keeping businesses profitable without having to invest in improving labour productivity.