The Globe and Mail reports in its Wednesday, March 27, edition that the Bank of Canada issued a warning on Tuesday about Canada's weak labour productivity and low levels of business investment. The Globe's Mark Rendell writes that the situation is an emergency that could make it harder to control inflation and erode living standards if not addressed. Senior Deputy Governor Carolyn Rogers stated that Canada is falling behind the United States and other peer countries in terms of economic output per hour worked. She identified weak business investment, inadequate competition and a failure to properly integrate skilled immigrants into the Canadian labour force as the primary reasons for this problem. "I'm saying that it's an emergency -- it's time to break the glass," said the central bank's second-in-command. Canada has long lagged the U.S. when it comes to how much the economy produces per hour of work. However, the situation has gotten worse over the past decade, especially coming out of the pandemic. Before the final quarter of last year, productivity had declined for six straight quarters. She added that weak productivity growth makes it more difficult for the BOC to keep a lid on inflation.