Despite exceeding immigration targets and expecting an influx of skilled tradespeople, Canada’s construction industry continues to lose thousands of jobs. In July, the sector saw a 2.8% drop, with 45,000 jobs lost. This trend is increasing, with construction experiencing more job losses than other major sectors. The problem is worsened by an upcoming wave of retirements and a housing shortage of millions. Canada Mortgage and Housing Corp. forecasts 3.5 million more homes to be built by 2030, but the number of new homes is declining. Immigration Minister Marc Miller believes new immigrants are necessary to solve the housing crisis and intends to maintain or increase immigration targets.
