Shortage of skilled tradespeople is hitting all Canadians in the pocketbook, economists say

CBC News
April 21, 2024
Category: Finance & Economics
Region: Canada

A shortage of qualified people to work in skilled trades is making rising costs of living even worse, economists and trade industry veterans say. …And it’s not just homeowners paying the price. “Anybody can expect to bear some of impacts of this shortage,” said Simon Gaudreault, for the Canadian Federation of Independent Business. He said these “underappreciated” careers are not just critical to our economy — they impact us as individual consumers, too. A CFIB report found that small Canadian firms lost $38 billion in business opportunities due to labour shortages in 2022, with the construction sector bearing the largest portion. …A culture that exalts university education and knowledge work over apprenticeship and working with one’s hands is also partly to blame, said Rennehan. Additionally, there can be barriers, such as finding an employer willing to take on someone with no experience, or limited spaces at colleges.

Read More