Commercial Real Estate: Construction sector seeing strong jobs growth, but retirements loom

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The average yearly wage of B.C. construction employees has climbed to $61,784, up from $57,647 in the fall of last year. Wages are up 10 per cent over the last five years.

B.C.’s 10-year projection for total unfilled construction jobs has fallen to 7,900 from 11,700 positions, a 32.5-per-cent reduction from last year’s projection, according to the B.C. Construction Association .

The report said there are $115 billion in projects underway, and another $206 billion in proposed projects on the horizon. That’s down from roughly $260 billion in proposed projects tallied in the last quarter, said Chris Atchison, the president of the BCCA, in a call with Postmedia. The construction industry workforce represents 9.2 per cent of the province’s total workforce, larger than forestry, mining, agriculture, fishing and manufacturing combined.

He said there will eventually arrive a retirement exodus and the construction labour shortage is expected to continue for at least the next 10 years.

 

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