Construction employment in Canada has shown slow but steady growth from 2013 to 2023, reaching 1.44 million units in 2023. Over this period, there were modest year-on-year increases, except for a notable decline of 6.51% in 2020, likely due to economic disruptions from the COVID-19 pandemic, followed by a recovery in 2021. In recent years, growth has leveled off, with a CAGR of -0.08% over the past five years.
Looking forward, the forecast for construction employment up to 2028 suggests a stable outlook, with a forecasted annual average CAGR of 0.18% and an overall growth rate of 0.9% over the next five years. The employment is expected to hover around 1.45 million units.
Future trends to watch for include:
- Impact of technological advancements and automation on job numbers.
- Influence of government infrastructure spending and policy changes.
- Long-term effects of the pandemic on labor supply and demand within the construction sector.