b'LABOUR FORCE UPDATENational Perspective on Labour Force DevelopmentBILL FERREIRA, Executive Director, BuildForce CanadaA s the world emerges from theindustrial and commercial permits is upAlthough employment in 2021 remains COVID-19 pandemic, the econ- compared to 2020 levels, while the valuesome 66,800 workers below 2019 omy is recovering. As of Octoberof institutional permitsat $7.5 billionlevels, the labour force has declined at 19th, 27.8 million Canadians have beenthrough Augustis already well ahead ofa faster rate, down by 76,500 workers. vaccinateda rate of 73.3 per cent amongthe $6 billion recorded in 2019. The combination of these two factors people over the age of 12. That figure risesCanadas Robust Market is driving unemployment rates in the daily and has helped most provinces lift allShould Continue, industry down. In September 2021, the remaining restrictions on public gath- Perhaps Even Strengthen unemployment rate was 3.7 per cent, erings. Canadas economy has reopenedGrowth is certainly good, but it doesdown from the 4.1 per cent recordedquickly, with construction playing anot come without challenges. Manyin 2019. leading role. parts of the country are experiencingWe expect the market for construction Building permits across the country havetighter-than-expected labour markets asservices to remain robust throughout been on the rise since the beginning ofemployment grows faster than the labourthe decade, with the possibility of even the year. The total value of permits issuedforce. Construction unemploymentmore growth on the horizon. A recent through August has topped $83 billion.rates in most provinces across Canadareport by RBC, for example, estimates That figure is up 23 per cent from theare being pulled down as a result.the investment required to meet Canadas $63.7 billion issued during the first eight months of 2020 and up 16 per cent from the same period in 2019. The key driverWHILE THE MECHANICAL SECTOR HAS DONE WELL of this growth has been a robust demand in the residential sector. Housing permitsTO MEET CURRENT AND FUTURE WORKFORCE account for 70 per cent of the total value of permits issued across the country sinceNEEDS IN THE FACE OF NORMAL DEMAND, IT MAY the start of the year. By comparison, residential permits accounted for 61 perBE CHALLENGED BY THE NEED TO KEEP PACE WITH cent of the total permit value in 2019 and 66 per cent in 2020. THOSE PROJECTS THAT ARE TIED TO CANADAS Activity in the non-residential sector has also tracked positively. The value ofCLIMATE CHANGE GOALS.ScaoldingShoringSwing StageSafety FenceDebris Chutes Skyway Toronto InsulaonAbatementRope Access170 Claireville Drive Toronto, ON M9W 5Y3Tel: (416) 744-6000 | Fax: (416) 744-6001 Fire ProongPainng & Coang SOLUTIONS YOU CAN TRUSTSafely supporng our customers since 196728 www.mcac.ca'