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WATERLOO cHnoNlcua -Wednesday, April 21,2010 - 19 Cultural differences a part of the productivity gap ’Bv (immune Plum; PArutmLL es have massively cut costs, she my is not measured appropriately. moved to Toronto. in pan so she “i'm not saying it‘s right or Chronicle Staff said. Fewer workers are producing Paul Summers, CEO of Clem- could spend more time with fami~ wrong. more, and wages have fallen, mer SteelCraft, said the region has ly. ‘l'm just saying there's a differ- herry Cooper. the chief econo- “They broke the backs of the a rich history and knowledge base “I came here and l was aston- ence." mist for the Bank of Montreal. unions,” Cooper said. “Clearly in manufacturing, where prof- ished â€" people who don't even At an event Thursday evening. says Canada has a productivity there has been a dramatic shift in itability is a more important meas- have a lot of money own cottages, Cooper also presented a cheque 1 problem, power.” ure than productivity. and are willing to take the week- for $50,000 to the foundations of ‘ Cooper was in Waterloo last The report indicates there are “We compete against compa- end offto go there,” she said. the region's three hospitals l Thursday presenting a report three main elements of productiw nies in Alabama where wages are a titled “Canada's disturbing pro- ity growth â€"â€" investment, in lot lower, but the knowledge is ~. ...._ _ a? ‘ ductivity performance" in a panel machinery and equipment, also lower,” he said. 3.313% {in ”5:5" .‘ 1‘ 7 4 . ‘ V discussion at the Accelerator Cenâ€" human capital development and "When you look at profitability " For}; waft“) . in. a; ; g. a: " Ire hosted by (Iommunitech and openness to tradeand investment. it forces you to be creative in cut- . 3 3‘7“; 5,“ ' .- :1. ' .V ' BMO. Cooper pointed out that part of ting costs" - "‘ . “w ‘ < ” 1 ’ 2 “We're in an extraordinary Canada's productivity gap can be in the future. Canadian busi- .5 “Manx-£2 ’ ‘c place right now," Cooper said. attributed to a measurement nesses need to look to new mar- j},- " 1".52. .- i “We're actually among the problem: in some sectors, such as kets. Cooper said. . ‘ 7% ‘1 ‘r * strongest economies in the technology. productivity can “One of the things that has ' world." appear to fall as prices on items made us lazy is that we live next to Canada was a stellar performer such as computers and BlackBer- one of the largest markets in the CLASS during the recession. she said. rys come down. world. but it‘s not a growth area.” . , ' “Our banks were the only “Some sectors are as good as she said. BEGINS «it ., banks, worldwide, that never took any in the world, and some are “We’re only limited by our TH â€"--- it" a single dollar of government lagging,” said Open Text executive ambition and drive and persever- MAY 1 7 "t1. money.~ chairTomlenkins. ance." 5* » 3.} :'t. ”in But the country has consistent~ The region is facing huge job Cooper, who was educated in g; . an; 3 ;,,f;;"‘~ MW? ‘ ly underperformed for the last 30 losses in manufacturing, while the US. and began her career in (a. I? we.- . ~ ‘ 1,, years in productivity, or output there are currently about 2,000 job Washington, DC. also contrasted ' _ . per capita. she said. openings in the tech sector. the us. attitude toward work with ° Convenient class schedules “Our rate of return is not as “We’re a tale of two cities, in the attitude ofCanadians. . ' ' high as in other countries. and the some ways.” he said. “Between the ages of 20 and 40, J9!) p'fmeme',“ aSSIStance . gap has widened to the highest “Parts have the highest unem- when you were starting your . Finanmal assistance (to thosewho quality) level in history.” ployment rates in the country, and career, you didn't expect to see Productivity has shot up in the yet other parts. we can’t find your kids." 0 U.S.. where record rates of unem» enough people to fill the jobs.” She never took an entire week- Med“ SChOOI ployment have been hard on fami- Jenkins said it’s a complex end off early in her career (“It just lies and consumers, but business- issue, and the knowledge econoâ€" wasn't done") and eventually ’ " ~ 148 m A“- 5-. m ° 5194854!)13 ‘ mmodlxschootca Get; Ready; , ._.'j ”LEM a; . ’ a, . 2“} 1;,2’j'1eéfi' " x“, .», a?“ ‘1 A . . 1.,52'55'f' 7" “ ‘ ~~ . 23:; at. ;.':"-“-’" .~;.' ”2'. w. . r ; ; tor . ‘ < “v ‘1: a»? - 1"“ HOT? 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