According to a new report by TD Economics, the construction sector was the biggest job generator in the last ten years in percentage terms. Robust housing markets, government stimulus packages that focused on home renos and new life in commercial real estate have all helped boost employment demand in the field.
Between 2003 and 2013, annual job growth across all sectors in Canada sat at 1.3 per cent. However, the construction sector led the pack with 4.1 per cent growth. It also came in first among job growth sectors from 2003 to 2007 (it saw a 5.9 per cent increase) and between 2010 and 2013 when it measured 3.6 per cent growth.
TD Economics also pinpointed the country’s real estate boom as “instrumental in driving rapid growth in a number of professional, technical and scientific services industries such as legal, accounting, engineering and architecture.”
Though the Construction Sector Council expects the sector will need 319,000 new workers between 2012 and 2020, TD Economics saw the future differently. It included construction as one of twenty sectors expected to have a surplus of workers between 2011 and 2020.
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