Alberta’s construction recovery will be modest through 2027, with employment sustained by demographics

Via GlobeNewswire

OTTAWA, March 17, 2022 (GLOBE NEWSWIRE) — Alberta’s construction market showed signs of a long-awaited recovery in 2021, thanks to a strong rise in residential-sector investment and increased major-project requirements. That growth and increasing heavy-industrial maintenance requirements should lead to an even stronger pace in 2022, before moderating through 2027.

BuildForce Canada released its 2022–2027 Construction and Maintenance Looking Forward report for Alberta today. The report focuses on a six-year horizon for provincial labour market data as opposed to the 10 years studied in previous reports. The shortened forecast period allows the report to focus more clearly on short- and long-term demand and supply pressures impacting the province’s construction sector.

“Alberta’s construction market is emerging from a challenging period that saw a downward trend in employment carry through from 2015 to 2021,” says Bill Ferreira, Executive Director of BuildForce Canada. “Our scenario forecast for the province anticipates overall construction employment to strengthen further in 2022, driven by an increase in both residential and non-residential demands. Demands weaken temporarily in 2023 as many current major projects wind down and new housing slows, but