BCCA Releases Stat Pack Fall 2024 in Around Town
The BC Construction Association (BCCA) has released their quarterly industry statistics for the Fall of 2024.
Highlights include:
- $170B – Value of proposed construction projects in BC – up 48%
- $72,200Â – Average yearly wage of BC construction employees – up by 17%
- 28,065Â – construction companies in BC – up by 9%
- 20,700 – construction job openings by 2033
- 163,300 – construction trades workers – down by 7%
- 5.7% – female trades workforce – up by 24%
BCCA notes the industry is facing a variety of challenges including persistent workforce shortages, high labour costs, and lack of payment certainty. Of particular concern is the nearly 20% decrease in the value of proposed major infrastructure projects such as schools, hospitals, and multi-unit housing over the past five years. The report notes that the value of major construction projects currently under construction is $170 billion while the value of proposed construction projects is $166 billion.
In spite of these challenges, the importance of the construction industry continues to grow and now accounts for 10% of the provinces GDP. Construction is the number one employer in British Columbia’s goods sector and approximately 243,000 people rely on the construction industry for a paycheque.
For more details go to: bccassn.com/stats
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