New construction of high-rise buildings in Burnaby city, industrial construction site, construction equipment, several construction cranes on the background of finished skyscrapers and a clean blueIn a frank, and subsequently disheartening, report, RBC's Robert Hogue outlines seven major factors that must be considered if the country is serious about tackling its housing crisis.
“Immigrants working in construction tend to earn above-average wages, establish themselves faster, and rely on social programs less than other immigrants,” writes Hogue, noting that recent immigrants are under-represented in the construction labour force. The figures say it all: Immigrants with an apprenticeship certificate and non-apprenticeable trades certificate represented just 2.4% of landed immigrants between 2016 and 2021. That’s down from 9.6% during the 1980s.
It’s no secret that the Canadian construction industry is filled with aging workers, and that’s perpetuating the labour shortage. One in five construction workers are at or will reach retirement age within the next 10 years. This represents 330,000 workers to replace if they do retire, making it that much harder to expand the sector’s production capacity. Hogue recommends incentivizing aging construction workers to stay on the job longer.
Source: Real Estate Daily Report (realestatedailyreport.net)
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