Revising 2015–2024 LMI Forecasts to Capture Market Volatility | BuildForce Canada

Revising 2015–2024 LMI Forecasts to Capture Market Volatility

No doubt you’ve been reading about or experiencing directly the significant changes in our economy. So have we. And we know you’re probably anxiously awaiting the new 2015 construction and maintenance labour market forecasts.

Given the current circumstances, our new 2015–2024 LMI forecasts are being revised before publishing to reflect the changes in the economy, including the decline in oil prices and the fall of the Canadian dollar. This changing economic landscape is estimated to slow growth in energy-producing provinces such as Alberta, Saskatchewan and Newfoundland and Labrador. However, other provinces such as Ontario, Quebec and British Columbia may benefit from lower energy costs, a declining Canadian dollar and stronger U.S. economy, with preliminary results showing moderate increases in both residential and non-residential construction.

Ordinarily we’d be getting set to release our labour market forecasts, but wanted to let you know that they’re being reworked to reflect current market volatility. We want to ensure industry has the latest information to make the most informed workforce and management decisions possible.

In the meantime, visit our Construction Forecast site to see what data is currently available to you.

Happy New Year and all the best in 2015!