The employment in the Specialized Construction Activities sector in Canada has shown a general upward trend from 2013 to 2023. In 2023, employment stood at 343,130 units. Year-on-year, employment saw significant fluctuations, notably with a decrease by -1.31% in 2023 following a strong increase of 5.53% in 2022 and 11.34% in 2021. Over the last five years leading up to 2023, the compound annual growth rate (CAGR) was approximately 3.05%, indicating a moderate average annual growth despite the volatility.
Forecasts from 2024 to 2028 suggest continued growth, with the sector expected to reach 386,500 units by 2028. The forecasted 5-year CAGR from 2024 to 2028 is projected to be 1.89%, indicating a steadier but slower growth rate compared to previous years.
Future trends to watch for:
- Technological advancements impacting productivity and employment structures in the construction industry.
- Government infrastructure investments and their influence on labor demand.
- Sustainable construction practices potentially leading to new job opportunities and shifts in required skills.
