Visual Group Anecdote – 50% of Construction Jobs Will Disappear

Employment growth in BC over the last decade has been solely related to the housing bubble and the closely associated Olympic construction projects. At one point in 2008, the number of individuals involved in construction represented 250% of what one would expect under more normal market conditions. This chart is from the indispensible local RE blog, Housing Analysis, run by bloggers jesse and mohican. In a 7 Feb 2010 post, they predict that, with “the continued completion of construction projects through the spring and summer”, the number of construction jobs will drop from current 200K to the 2001 levels (100K), very rapidly. We agree with this outlook. -vreaa

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