Canada’s home renovation sector is growing at a rapid pace, Canadian residential construction sector will be requiring over 129,000 new skilled workers within next 10 years, a report published by the BuildForce Canada in association with the Home Builders’ Association of Canada has revealed.
Proponents stated that the report identifies the particular requirements and challenges that are being faced by the employers of the residential construction industry. The new report has overseen the cycles in new housing construction, renovation and workers retirement throughout the industry. Therefore, the employer will be able to make the most informed decisions with regards to labor force requirement in the sector.
Reportedly, the new residential construction report is the report that focuses on the supply and demand for renovators and house builders. The report projects that the renovation and maintenance sector will grow constantly since the housing stock ages. With moderate growth in new housing sector, the demand for residential construction employees has shifted to the renovation industry.
Apparently, the report states that the biggest challenge throughout all provinces is the aging workforce and there is a requirement to replace around 114,000 skilled professionals retiring this decade. BuildForce Canada is an industry-led firm that represents almost all fields of construction sector in Canada. It is important to offer precise and timely labor market data and analysis along with other programs and schemes to manage the workforce requirements.