New construction and renovations down $8.4 billion compared to 2008…41,000 construction job losses…


The slump in new residential building has taken a significant but largely invisible toll on jobs in the building products sector in Canada. New construction and renovations are down by $8.4 billion on an annualized, inflation-adjusted basis in the first half of 2009 compared with 2008, according to real estate consultancy Altus Group.


Read the full article by Tony Wong, “Construction, renovation swoon hammers jobs” in the Toronto Star (Oct 15, 2009)

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