In the wake of announcements that construction job growth will increase substantially over the next 3 years, a recent survey indicates that construction wages will also increase nearly 10% over the next couple years.
In a study recently released by the Independent Contractors and Business Association (ICBA), survey respondents admit that they expect to give their workers a 4.5% raise, followed by a 5.1% raise in 2019.
The ICBA Wage and Benefit Survey also forecasts company’s optimism around adding more work in 2018. Of the companies surveyed, 96% expect business to be as strong or stronger in 2017. Regionally, all construction employers expect an increase in business:
·Interior: 43% of contractors expect more work in 2018 than last year; 82% say they are short of workers, especially labourers, carpenters and framers;
·North: 60% of contractors expect more work in 2018 than last year; 80% say they are short of workers, especially carpenters, truck drivers and dry wall workers;
·Vancouver Island: 49% of contractors expect more work in 2018 than last year; 76% say they are short of workers, especially carpenters, labourers and framers; and
·Lower Mainland-Fraser Valley-Whistler: 55% of contractors expect more work in 2018 than last year; 82% say they are short of workers, especially carpenters, labourers and plumbers.
“We are in an exceptionally strong construction market,” said Chris Gardner, president of the ICBA. “The other interesting finding of the survey is that markets are very strong across the province so good opportunities if you are a young person looking to pursue a career in construction, strong wage and benefit gains and opportunity to work across the province.”
Construction in B.C. employs nearly 225,000 people and contributes nearly 10% of the provincial GDP.
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