December 24, 2012
Lack of construction managers an issue
A new report from CIBC World Markets finds that some occupations are constantly in need of workers, while other sectors face the prospect of chronic unemployment.
“On one hand, jobs go unfilled for long stretches due to a lack of skilled applicants,” said CIBC deputy chief economist Benjamin Tal. “But on the other end of the labour market spectrum, there is growing evidence that the size of the labour surplus pool is also on the rise. For a number of occupations, employment opportunities are increasingly disappearing. This labour market mismatch is big enough not only to reduce the effectiveness of monetary policy, but also to limit the growth potential of the labour market and the economy as a whole.”
Tal identified 25 job groups that have shown signs of consistent skills shortages, including managers in construction and transportation; civil, mechanical, electrical and chemical engineers; and many positions in the mining, oil and gas industry. No less than 30 per cent of businesses indicate that they face a skilled labour shortage, double the rate seen in early 2010.
In his analysis, Tal found 20 occupations that are showing signs of labour surpluses. This trend is seen in traditional occupations like butchers, bakers, tailors, labourers in manufacturing, office managers and clerks, along with secondary and elementary school teachers.
The average duration of unemployment in Canada currently stands at 16 weeks, which is five weeks above the pre-recession level. There are currently 250,000 Canadians who have been unemployed for more than six months — 18 per cent of total unemployment in Canada.
“Longer term unemployment was on a clear downward trend over the past two years, but its current rate is still notably higher than its long-term average. That is mostly the case among Canadians over the age of 45, suggesting that retraining must be an integral part of any solution,” said Tal.
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 481 projects with a total value of $2,274,238,471 that Reed Construction Data Building Reports reported on Wednesday.
$100,000,000 Division No 16 AB Prebid
$100,000,000 Victoria BC Prebid
$53,000,000 Surrey BC Prebid
- Journal of Commerce Preview for the week of April 21st, 2014
- Fort McMurray airport terminal getting ready for take off
- B.C. government forms liquefied natural gas working group
- Kitimat residents vote against Northern Gateway pipeline
- Precast concrete enables net-zero homes
- Learning to dig safely can save lives
- Ex construction boss admits to collusion in government contracts
- P3 Fund launches
- Supreme court won't hear case involving construction mogul
- Minister spurns spat over plant
- Upset waters over new Ontario diving regulations
- Covering up the Celsius
- Frontier Oilsands Mine joint review panel raises concerns among some First Nations
- The rise of biomaterials in construction
- Doors open on latest PPP Canada funding
- U.S. builders’ confidence rises but is limited by tight credit and shortages of labour and lots
- Keystone XL opponents carve message
- RFP released to shortlisted teams for Milton hospital expansion