The construction industry in Canada continues to shed jobs nationwide, with more than 40,000 job losses as of July 2023, according to a study.
“The number of jobs in the region has fallen by 45,000 [-2,8 %] in July, after a smaller drop of 14,000 [-0,8 %] in June. Since January 2023, construction jobs have fallen by 71,000,” according to Statistics Canada’s labor force survey.
According to Canadian media Global News, the rising number of retirees could make the situation worse.
The vacancy rate in construction has also reached an all-time high, with around 80,000 vacancies in the industry, said Benjamin Tal, CIBC’s deputy chief economist, in a note obtained by Global News.
The media also claim that the construction sector has lost more jobs than most sectors such as administration, information and transport.