Three years of job losses for Alberta construction firms: forecastCanadian Contractor Business Losses Market
Alberta construction employment is predicted to drop by 15 per cent or more over the next three years
Construction industry association BuildForce has predicted that plunging energy prices will lead to three years of job losses for Alberta’s construction industry.
Construction jobs in the province could fall by 15 per cent or more, BuildForce says.
Most of the job cuts will occur in engineering employment, the authors of the study say. But the ripple effect of the economic fallout from lower oil prices will also impact the housing market in Alberta, leading to significant job losses in residential construction.
Construction hiring in Alberta won’t pick up again until 2018, BuildForce predicts.
For a Business News Network (BNN) / Globe and Mail report on the issue, click here.