The productivity of Manitoba's workforce has grown by 2.9 per cent between 2004 and 2005, but workers are still less productive than in other Western provinces, according to a study released Friday.
The Institute of Chartered Accountants of Manitoba released its annual "Manitoba Check-Up" of some of the province's economic indicators, such as workforce productivity and investment in the province.
Institute CEO Gary Hannaford said Friday that the report looked at how productive Manitoba's workforce was compared with other Western provinces and Ontario.
He said the province ranked second in productivity growth behind Saskatchewan, and it's steadily rising in productivity.
"I think we've seen some real important growth in productivity. Manitoba showed the second-greatest increase in labour productivity between 2004 and 2005," Hannaford said.
"And since 2000, we were also the second-greatest improvement in that area."
Between 2000 and 2005, Manitoba's workforce productivity rose by 6.6 per cent, the second-fastest rate of growth among the Western provinces and Ontario.
Overall productivity still lags
But Hannaford said that even with its gain, Manitoba still ranks last among all of the provinces surveyed.
Mechanization was a key factor, as Manitoba businesses lagged behind those in other provinces when it came to investing in new equipment, which in turn increases productivity, he said.
The study also looked at the personal and corporate tax rates in Manitoba, and found they were higher than most other provinces.
"While the provincial government has introduced some reductions in those rates, other provinces have gone further and faster in those rates," Hannaford said.
"And it makes it more difficult to be able to compete and have those after-tax profits that companies are looking for, which allows them to reinvest in their companies."
The study also found that Manitoba lost 3,832 of its residents to other provinces, such as Alberta and British Columbia, last year. The province added 3,700 net new jobs to its economy, which at 0.6 per cent was the lowest rate of job growth among the other Western provinces and Ontario.
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