Construction down in flat employment report

Employment declines were greatest in the construction sector in July. (Source: Statistics Canada, Labour Force Survey (3701), table 14-10-0355-01.)

Construction employment and overall employment were on different paths in July, reports Statistics Canada. While the overall employment picture was little changed for the month, the construction sector took a significant hit, dropping more positions than any other sector in the monthly Labour Force Survey. According to the most recent edition of the report, the sector has lost 45,000 workers, or almost three per cent of its workers, since June.

The July drop follows a smaller decline experienced in June, when the sector lost 14,000 workers. Since January, employment in construction has decreased by 71,000, more than eclipsing a cumulative increase of 65,000 experienced from September of 2022 to January. Hardest hit in July were British Columbia (-21,000), Quebec (-11,000) and Ontario (-9,000).

Looking at the broader picture, the unemployment rate across all sectors increased by a slim margin, rising 0.1 percentage points to reach 5.5 per cent. While still relatively low, that marks the third consecutive monthly increase.

Employment losses were greatest among core-aged men aged 25 to 54 years old (-27,000) and increased among male youth aged 15 to 24 (+13,000). There was little variation in employment among young and core-aged women, and among men and women aged 55 and older.

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