Stimulus and private sector key to Canadian construction industry's resurgence

Thursday, 08 July 2010 01:42:48 (GMT+3)   |  
       

How quickly British Columbia's construction industry emerges from the steep downturn that began in 2008 will depend on the timing of government stimulus and the resurgence of private-sector-led projects, says a newly released report by the Construction Sector Council (CSC).

In its annual report on the supply and demand for construction labor in BC, the CSC estimated that construction employment fell by 15 percent with the loss of over 21,000 jobs during the downturn.

"The Home Renovation Tax Credit, and other government investment in social and First Nations public housing infrastructure, have helped labor markets through the downturn. These programs support economic growth and provide opportunities for skilled workers," says M.J. Whitemarsh, Chief Executive Officer of the Canadian Home Builders' Association of BC.

But the provincial Construction Looking Forward report estimates the return of stronger labor markets for much of the forecast period, which looks as far out as 2018.

The CSC compiles reports for each province following consultations with industry leaders, as well as governments and educational institutions; and is Canada's most reliable source for labor market forecasting. The CSC is a national industry organization funded by the Government of Canada's Sector Council Program.


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