A net loss of 8,800 jobs in the construction industry means that companies are hiring fewer people. This trend might suggest companies are either:

1) completing fewer projects or trying to do the same amount of work with fewer employees, possibly because of budget constraints, or

2) a decrease in demand

For small businesses, this could mean it's harder to find and hire skilled workers since there are fewer jobs available, and those workers might be looking for more stable or higher-paying opportunities. It also could mean more competition for available projects, as all companies, big and small, adjust to these market changes.

What is a positive aspect of this trend?

This trend suggests that with the shortage of skilled workers, construction companies need to rethink their long-term hiring strategy and goals. By exploring flexible hiring solutions such as OndeWork's "try now hire later" model, construction companies can optimizing how they use their existing teams while planning for how to onboard and upskill new team members.

As the market forces continue to put pressure on small businesses, companies need to reimagine how they attract, onboard and help people become productive and profitable.



* External Source: 150.statcan.gc.ca/n1/daily-quotidien/240328/dq240328b-eng.htm?utm_source=mstatcan&utm_medium=eml&utm_campaign=statcan-statcan-mstatcan