Despite economic uncertainty both domestic and international, there is optimism in B.C.’s construction sector according to the annual survey by the Independent Contractors and Businesses Association (ICBA).
B.C. construction contractors (87 per cent) expect 2024 to be as busy – or even busier – than last year.
The nearly 250,000 men and women who work in construction in B.C. will benefit from this growth – with ICBA employers reporting that the average construction hourly wage will grow 5 per cent this year, and another 6 per cent in 2025. With these increases, in 2025, the industry’s average hourly wage – before any bonuses, benefits, profit-sharing or overtime – will reach $37.51, or about $78,000 annually.
“Construction is dynamic, fast-paced, and rewarding – people wake up every day and go to a job site to build everything around us, creating inspiring legacies that shape our communities and the way we will live for generations,” said ICBA president Chris Gardner. “It’s a message we have to convey to young people in a more convincing way than we have in the past.”
Despite the optimism and record levels of immigration, B.C. builders flag labour shortages of people (79 per cent of contractors say there aren’t enough skilled workers), as a major challenge.
“Four in five contractors still can’t find enough of the people they need. This dynamic has not changed for years given Canada’s dismal record of identifying the skills gaps in our economy and attracting the new immigrants we need to fill them,” said Gardner.
Other major issues include supply chain constraints, and government red tape was cited as major drags on their work – and this is driving up costs and impeding the efforts to tackle housing affordability.
“We have not moved the needle on housing supply for the past 50 years – we are building fewer homes today than we did in 1972. Reams of new regulations and convoluted approval processes have choked the supply we need to keep home prices affordable for first time homebuyers and young families,” said Gardner. “All three levels of government need to stop the finger-pointing and working at cross-purposes, and collaborate meaningfully to fast track housing, cut red tape, and put in place practical policies that will make a real difference for home buyers.”
