Canada’s Construction Industry Rebounds Post-pandemic, with More Muted Growth to Come

Ottawa – Construction requirements across Canada are expected to rebound in 2021 in the wake of the COVID-19 pandemic and rise through the coming decade – albeit at more muted levels than in the past 10 years. The strength and pace of recovery, however, will vary among provinces, and will depend significantly on the rollout of COVID-19 vaccines, the recovery in consumer and business confidence, the global demand for Canadian exports, and the lifting of restrictions on international travel. This is according to the latest labour market forecast released today by BuildForce Canada. BuildForce Canada’s 2021-2030 Construction and Maintenance Looking Forward national report forecasts construction employment to rise by 64,900 workers over the next decade. This represents an increase of 6% over 2020 workforce levels. While the outlook forecasts much of that growth to take place through 2025, by the end of the decade, the respective provincial industries will have to cope with the need to replace nearly 259,100 workers, or about 22% of the current labour force, due to retirement. “Canada’s construction outlook is strong for 2021 and well into the middle portion of the decade thanks to gains in the residential and non-residential sectors,” says BuildForce Canada Executive Director Bill Ferreira. “And while we forecast growth to slow over the later years of our forecast period, we nonetheless expect that the industry will be challenged to recruit more than 309,000 new workers to replace retirees and keep pace with demand.”   READ FULL ARTICLE>>