Canada's construction news
On this episode of The Construction Record Podcast™, digital media editor Warren Frey speaks with ConstructConnect chief economist Alex Carrick and senior economist Michael Guckes in part one of a two-part series looking at the geopolitical situation across the globe and how it affects the construction industry and the pressing need for labour at a level never been seen before in either the Canadian or U.S. economies.
Alex lays out the current economic situation by laying out the latest construction starts data and pointed to risks such as the ongoing situation in Ukraine and the Middle East, climate change and pointed to a significant upsurge in Canada’s population which will affect the economy in terms of new housing and access to skilled workers.
Michael also raised the effects of climate change on shipping, as the Panama Canal experiences drought which has a cascading effect on the economy as shipping slows and goods can’t get where they need to be. Weather events across North America are also causing growing insurance claims which increases costs for commercial real estate as well as other industries. He referred to all these risks as “many small cuts” that cumulatively hurt the construction industry..
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