On this episode of The Construction Record Podcast, BuildForce Canada executive director Bill Ferreira joins digital media editor Warren Frey for a deep dive into a series of recently released BuildForce forecasts covering the state of the Canadian labour market up until 2032.
While construction activity is down from its 2022 peak, the reports found a brief contraction in 2023 and 2024 will dissipate by 2025 when growth driven by public sector investment across the provinces will drive employment. Ferreira also noted the numbers were based on existing demands and did not take into account the federal government’s recently stated aim to double the number of new homes across Canada as well as dramatically increase electrification through retrofits of existing residential, industrial, commercial, and institutional buildings.
Ferreira also noted while the overall picture for construction employment is good, unknown factors such as COVID-19 and the ware in Ukraine adversely affected the economy previously and unforeseen future events could also dampen the economic forecast.
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