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Fall 2017 BC Construction Industry Trends

Oct. 19 2017 BC Agriculture & Construction Equipment Blog By Handlers Equipment

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As we enter the last quarter and are nearing the end of the year, you have likely noticed a flurry of construction projects attempting to finish before the first frost. Now is a great time to look back at the fall 2017 BC construction industry trends.

The BC construction industry is ranked as the #1 employer in BC’s goods sector and contributes 8.6% to BC’s GDP. Currently, there is $325 billion in proposed constructions projects in BC, which will ensure continued growth and job creation in this sector. The value of current construction projects in progress is over $75 billion.

There is currently a labour shortage in BC, it is estimated that 14,200 construction jobs will be unfilled by the year 2026. This represents a 46% decrease over a 4-year trend. These figures are strange when you consider that there are 35,600 unemployed youths in BC this year (aged 15-24). That is 9.2% of the total youth population and represents a major target for construction industry recruitment.

As of fall 2017, there are 23,569 construction companies in this province. This represents a 6% increase over the past four years. Over 90% of these constructions companies are small businesses that employ less than 20 people. There are 225,500 construction employees in BC, which is a 12% increase in the last 4 years. On average, these employees are paid $58,500 with a total of $13.2 billion in cumulative wages this year.

Just over half of the GDP from BC’s construction sector comes from retail and commercial building construction; with 16% coming from repairs and maintenance. The remaining 31% is from industrial projects, including roadways and hydroelectric dams.

With the increase in construction projects planned, many business owners will be looking to upgrade their equipment inventory in advance of the 2018 building season. Handlers Equipment carries several lines of heavy construction equipment including:

  • Hyundai excavators, wheel loaders and rollers
  • Morooka rubber tracked dumpers
  • Avant telescopic loaders
  • Used construction equipment

Based on the fall 2017 BC construction industry trends, now is an excellent time to take a look at Handlers’ line of new and used construction equipment to make sure your team is well equipped to tackle any new construction project.