Climbing unemployment; Building Construction Price Index down substantially in 2024: OCS

The Ontario Construction Secretariat (OCS) report reveals a rising unemployment rate in the construction sector, reaching 9.6% in January 2025, due to a dip in employment alongside a rising labour force. The Building Construction Price Index (BCPI) decreased in 2024 compared to the previous years, although inflation pressures remain a concern, particularly in Toronto. While women's employment showed a slight increase, men's employment declined, contributing to overall employment contraction. The report highlights ongoing challenges such as skilled labour shortages, land availability, and building code changes impacting inflation.