Carney's Economic Vision: Why Canada Must Invest in People, Not Just Projects
Canada's Economy Needs Investment in People, Not Just Projects

The economic landscape that Canada has long relied upon is undergoing a profound transformation. Prime Minister Mark Carney, speaking at a Calgary Chamber of Commerce luncheon in late November, emphasized a vision for growth centered on ambitious infrastructure projects in sectors like energy, mining, and artificial intelligence. However, a critical question emerges: is this focus on physical projects and "hard sciences" enough to secure the country's prosperous future?

The Either/Or Fallacy in Skills Development

During his address, Carney highlighted the importance of seizing economic opportunities in technical fields, even quipping that his own finance degree had lost its relevance. This perspective, however, often reinforces a false dichotomy between so-called "hard" STEM skills and "soft" social science abilities. The reality is that sustainable economic growth cannot be fueled by one without the other. The true engine of innovation lies in investing in the Canadian workforce itself—the people and teams who will execute these grand visions.

Study Reveals Alarming Training Gaps

A recent study examining Canada, the U.S., and the U.K. uncovered significant shortcomings in how the workforce is being prepared. The data is stark: while 81 per cent of the 3,000 surveyed workers completed training in the past year, only 32 per cent felt it actually helped them perform their jobs. More concerningly, 59 per cent reported they have left or are considering leaving their positions due to inadequate workplace training.

These statistics present a major obstacle to Prime Minister Carney's call for the nation to "build big, build fast, build bold again." A workforce in flux, hampered by ineffective skill development, struggles to provide the stable foundation required for such ambitious projects.

Collaboration Tops the List as the Essential "Meta Skill"

So, what does the workforce itself identify as the most crucial need? The study pinpointed collaboration as the number one skill required for success and job retention. This falls under the category of "meta skills"—integrative abilities like critical thinking, systems thinking, and collaboration that transcend the traditional hard/soft skill divide.

These meta skills are not optional extras; they are the fundamental innovation engine that drives economic progress. They are applicable across all disciplines and projects, making individuals, companies, and the nation as a whole more adaptable and valuable. For Canada to generate and retain value within its borders, cultivating these human-centric capabilities is not just complementary—it is imperative.

The path forward requires a dual focus: championing the large-scale projects that define Carney's economic strategy while making an equally bold commitment to developing the human capital needed to bring them to life. The future of Canada's economy depends on investing in its people as diligently as it invests in its infrastructure.