Alberta: Employment stability returns, growth to follow
March 25, 2021
Ottawa – Hit hard by the COVID-19 pandemic and resulting investment declines in the oil and gas sector, Alberta’s economy is poised to stage a modest comeback in 2021, and a more material expansion after 2023.
The latest labour market forecast released today by BuildForce Canada projects that employment in the province’s construction and maintenance sector will be sustained in the immediate term by public-sector capital spending before growing moderately after 2023 on the strength of anticipated investments in oil and gas projects, as well as an up-cycle in new residential construction.
BuildForce Canada’s 2021–2030 Construction and Maintenance Looking Forward report for Alberta forecasts overall industry employment requirements to increase by more than 19,000 workers (+11%) by 2030 compared to 2020.
“Alberta has weathered some very challenging economic times over the last few years,” says BuildForce Canada Executive Director Bill Ferreira. “The impact of COVID-19 has certainly increased overall uncertainty, and while it may be cold comfort to those impacted, conditions are expected to improve over the next few years.”