New Report Outlines the Economic Benefits of Canada’s Public Health Care System

In the face of worsening trade and economic threats from the United States, the Canadian Federation of Nurses Unions (CFNU) released a new report earlier this year outlining the economic benefits of Canada’s public health care system.

Authored by economist Jim Stanford, the report explores and documents the multi-faceted contributions that public health care makes to Canada’s economy, including growth, jobs, investment, innovation and equality. The Economic Benefits of Canada’s Public Health Care System demonstrates the importance of strengthening public health care as one of the largest and fastest-growing sectors in the national economy.

“The growth of public health care is commonly interpreted as a problem to be solved, but there is another side to the story,” said Stanford. “Health care is one of the largest and fastest-growing sectors in the national economy. Its continued growth can help to stabilize the national economy at a moment when export industries are disrupted by international chaos.”

The broader health care sector created almost 450,000 jobs over the last decade – far more than any other sector. The health care sector employs more than 2 million people in Canada, and health care workers earn $120 billion per year in wages and salaries. Health care accounts for over $7 billion in annual research spending – the second highest of any Canadian industry.

From direct to indirect job creation to contributing a substantial proportion to our GDP, Canada’s public health care system deserves recognition for the significant role it plays in anchoring and building our economy.

“Public health care is not only vital to Canadians’ well-being – it is also foundational to our economy,” explained CFNU President Linda Silas. “It is long past time for governments to view health care through the lens of economic contribution. When we talk about nation building, our public health care system is the foundation that we need to build upon for a strong economy that is more protected from international trade disruptions.”

To view the report go to nursesunions.ca/new-report-outlines-the-economic-benefits-of-canadas-public-health-care-system/ and click the link.