Alberta’s construction sector is building the economy and leading the province in employment growth with 12,767 more Albertans employed in the sector in the first quarter of 2024 compared to the same period in 2023. This growth has been driven by an increase in building construction investment as well as a healthy surge in housing starts in the last quarter of 2023 and into 2024.
Alberta’s growing population is driving this trend as more people continue to make Alberta their home. The province led Canada in population growth in the fourth quarter of 2023, increasing by 4.4 per cent from a year ago. International migration contributed two-thirds of the overall provincial population gains. This was also the sixth quarter in a row that Alberta had the highest net interprovincial migration in Canada, adding 9,913 new residents from other provinces and territories in the past three months.
“The positive impacts of a growing population are being felt across our construction sector and I am excited to see this trend continue as even more skilled workers and talented professionals choose Alberta to put down roots.”
Alberta’s residential and non-residential construction sectors are both projected to experience continued growth over the next decade, according to a recent forecast from BuildForce Canada, and total construction employment expected to increase by another 14,000 workers between 2024 and 2033. The Alberta is Calling Attraction Bonus, introduced in the Financial Statutes Amendment Act, 2024, will ensure the province’s labour force keeps up with Alberta’s growing economy including in the skilled trades.
“The construction industry provides rewarding careers for Albertans and for those seeking to work and live in the province. The Alberta Construction Association is pleased to see the growth in projects, investment and especially people. We are encouraged by the programs put forward by the government to attract, train and retain skilled workers in our sector. With 23 per cent of workers expected to retire by 2033, continuing collaboration between the construction industry and government will be needed to meet increasing demand.”
Alberta’s government has a sustainable plan for a growing province. Through Budget 2024, government is investing $25 billion over three years to build the schools, hospitals and roads Alberta’s communities need today and can rely on as they grow. This will ensure Alberta remains the best place to live, work, invest, start or grow a business and raise a family.
Quick facts
- Alberta’s growing population has been coupled with consistent employment gains since October 2023.
- The first quarter of 2024 saw an increase of 89,100 employed Albertans, 3.7 per cent higher compared with the same quarter last year.
- Over the past four years, the labour market has been stabilizing with the unemployment rate remaining at 6.2 per cent during the first quarter of 2024 and job vacancies declining over the last six quarters.