Canada to announce new measures to support construction industry 

The announcement, set to take place in Ottawa, is expected to address challenges faced by the sector, particularly labor shortages and housing affordability.

According to Immigration News Canada (INC), the announcement comes as Canada faces a growing need for housing, with the Canada Housing and Mortgage Corporation (CMHC) estimating a need for 3.5 million new homes by 2030 to restore affordability.

The measures, according to reports, could be a response to the ongoing shortage of skilled labor in the construction industry.

Details inform that while specific details of the new measures remain unclear, the press release indicates that Minister Miller will focus on initiatives to support individuals and firms in the construction industry.

The construction workforce, according to reports, is equally large, with an estimated 1.2 million workers in 2023, a number that has doubled since 1997.

This workforce, as stated, is essential in meeting the growing demands for residential and non-residential construction. However, challenges such as labor shortages and economic fluctuations continue to affect the industry.

Reports inform that the labor shortages in the construction industry remain a major concern, with BuildForce Canada estimating the need to recruit over 309,000 new workers by 2029.

This, according to reports, is driven by a projected retirement of over 257,000 workers and an anticipated growth of 50,200 jobs.

Reports indicate a vacancy rate of 5.1% in construction, which is higher than the national average. This underscores the urgent need to address labor shortages and attract skilled workers to the sector.

Immigrants, according to INC, play a significant role in Canada’s construction industry, with an estimated 22% of the workforce coming from immigrant backgrounds.

The Canadian government’s efforts to support the construction industry come at a critical time. As the country grapples with housing shortages and a growing demand for skilled labor, these measures look to provide relief to construction firms and workers.

Minister Miller’s upcoming announcement is expected to provide more details on the steps the government is taking to ensure the sector remains capable of meeting future demands.

For now, industry stakeholders will need to stay tuned for further updates on the government’s plans to support the sector and address the ongoing labor challenges facing Canada’s construction industry.