Outlook is strong says economist at CIPH Ontario Region AGM
Alex Carrick, who is chief economist for ConstructConnect, believes the outlook for the construction industry is looking strong.
Speaking at the Canadian Institute of Plumbing & Heating Ontario Region AGM and business meeting on October 6, 2022, Carrick attributed some of that positivity to the demand for net zero and noted “it will be transformative for the labour market, it will be worldwide, it will launch a new commodities super cycle, and it will be super expensive.”
He drew the attendees’ attention to the advantages Canada has in the push to net zero, including “abundant resources, a foreign trade surplus, a well-educated and skilled labour force, rapid population growth and Canada’s electric power generation base, which is comprised primarily of renewables.”
Carrick said that inflation is most interesting in terms of wages. “Bringing manufacturing back gives workers some leverage, the balance of power has shifted,” noted Carrick.
The next Ontario Region business meeting is January 26, 2023. Mechanical Business publisher Bruce Meacock is part of a panel discussing social media and its effect on business.