Local Community Advertising
Canadians could have a four-day work week and still see their income increase, a new study has claimed.
The research, by the Fraser Institute think tank, adds that the shorter week could also include fewer hours.
But it all depends on productivity increasing by 2% a year for the next 10 years – a tough ask, given productivity increased in Canada by just 1.05% a year from 2010 to 2016.
The idea of a four-day week – usually including 10-hour days to make up for time lost – has been around a long time, but attracted attention recently due to the COVID-19 crisis.
New Zealand’s prime minister, Jacinda Ardern, discussed the concept last month, prompting a journalist to raise the question with Justin Trudeau.
Trudeau said “we’ll have plenty of time to talk about particularly creative ideas moving forward,” but added that the priority was getting out of the COVID-19 health and economic crisis first.
“In light of the COVID lockdown, there’s been a lot of talk about a possible four-day work week in Canada, but to achieve a four-day work week where we actually work fewer hours while at the same time maintaining our current living standards, we need to be more productive,” said Steven Globerman, a Fraser Institute senior fellow and author of Reducing the Workweek Through Improved Productivity.
The study found that, with a 2% increase in productivity a year, workers would see an inflation-adjusted growth in income of 1.5% despite working four days a week.
“If governments pursue policies that encourage entrepreneurship and innovation, worker productivity will rise and Canadians will be able to enjoy more leisure time,” Globerman added.
Local Community Advertising