“Crazy Land” – 9% of the working population employed in construction.

Chart via Kevin at saskatoonhousingbubble, who also points out “The long term average of the Canadian labor force employed in construction is just under 6%. Right now it is over 7%. … BC is in absolute crazy land with almost 9% of the working population employed in construction.” [Thanks Kevin.]

More misallocation of resources.
Sheds light on why the Provincial Government would want to keep this going.
After the housing mania ends, by the next price trough, about 40% of those construction jobs will have evaporated. Possibly 50%.
(Aside, for TA lunatics: Failed double-top.)
– vreaa

5 responses to ““Crazy Land” – 9% of the working population employed in construction.

  1. This explains the number of contractors running around Victoria in the biggest pickup truck they could find on the dealer’s lot,probably financed with a heloc on one of their spec houses!

  2. Prices go flat, “investment” (speculation) stops, building stops, pay checks stop, HELOCs stop, consumption stops.

    BC politicians, what is your plan now?

    • There is no plan, just look at the provincial budget.

    • And what would you have them do. I’m sure they would love to have the problem of having too many industries all vying over the same pie but that’s not the case. The only lobby that is infiltrating decisions is the one that has the most money. If there were an auto industry things would be a bit more tricky.

      The government is elected by British Columbians; their tack should come as no surprise.

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