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Canada has a productivity problem, and according to head economists at TD “there is one sector in Canada that wears the Scarlet Letter more prominently than the others: construction.”

The report, bluntly titled From Bad to Worse: Canada’s Productivity Slowdown is Everyone’s Problem, explores how growth has declined in almost every sector since the pandemic, from manufacturing, to oil and gas, to the service industry. “

In 2023, Canada’s economic growth posed challenges for the construction industry, ranking Toronto, Vancouver, Calgary, and Montreal among the top 50 most expensive places for construction globally.

Per findings from Arcadis’ 2024 International Construction Costs Index, in 2024, Canada’s construction sector is poised for cautious optimism, with a few bright spots on the horizon. 

The growing construction labour shortage was cited by the Canada Mortgage and Housing Corporation (CMHC) as one of three major factors contributing to longer construction times. Anne Gaviola has this story and more in Business Matters for Thursday, April 18, 2024.

New numbers from the construction industry reveal what many GTA drivers probably already know — Toronto is in a construction boom. There are nearly 250 cranes in use in the city right now, according to the latest Crane Index from Rider Levett Bucknall (RLB). That’s more cranes than New York, Boston, Los Angeles, Seattle, San Francisco, and Washington. D.C., combined.

The B.C. Real Estate Association says the province must build 25 per cent more new homes than usual for the next five years to address deteriorating housing affordability. It says construction needs to be ramped up to a record 43,000 housing completions a year for the next five years to counteract rapid population growth.

Desperate for workers, Canada is implementing several immediate measures to bolster its skills and trades sectors including allowing successful candidates to bring their family members to the country.

In addition, several provinces are opening their doors wider to ease crippling labour shortages while creating pathways for out-of-status migrants to help Canadian employers. 

Some of Metro Vancouver’s largest and most notable building and infrastructure projects currently under construction will reach completion in 2023. While there is currently a slowdown in construction starts, especially in residential uses, most of the handful of highlighted projects began construction well before the pandemic. 

They predicted that the sharp increase in costs was just a by-product of temporary supply-chain disruptions or the global economy rebounding from the worst of the COVID-19 pandemic. Yet here we are in 2022, and inflation shows no sign of ending its steep upward trajectory.

Although some economists and academics might debate this, inflation is clearly not transitory. At least for the foreseeable future, it’s here to stay.  

Your equipment is a vital part of your business. But are you making the most of it? Read on to discover our 8 tips to improve your business’ effectiveness and productivity! Each tip on its own will save you money and time managing the equipment in your inventory, but the whole is greater than the sum of its parts. If you implement all of the advice below, equipment inventory management will have a much bigger impact on your business.

Heavy Equipment Tracking, Monitoring and Control industry for a Leading company is an intelligent process of gathering and analyzing the numerical data related to services and products. This Heavy Equipment Tracking, Monitoring and Control Research Give idea to aims at your targeted customer’s understanding, needs and wants. Also, reveals how effectively a company can meet their requirements.  

Marketreports.info analysts forecasts the latest report on “Global Equipment Monitoring Market (Covid-19) Impact and Analysis by 2030”, according to Equipment Monitoring report; The Equipment Monitoring Market report covers the overall and all-inclusive analysis of Equipment Monitoring Market with all its factors that have an impact on market growth.  

The MarketsandResearch.biz unveiled a research report on Global Online Machine Condition Monitoring Equipment Market from 2022 to 2028, which provides comprehensive data on the potential trends and current state of the main factors driving and restraining global market growth.

This Equipment Monitoring Market report provides detailed market insights to help companies make better business decisions and drive growth plans based on forecast and market trends. This Equipment Monitoring market report explores the new developments, trends, and prospects, and forecasts the current status and future prospects of the market from 2022 to 2029.

 How well a contractor manages equipment use on a project, and its fleet in general, can make the difference between a large profit and a small one - or even none at all. Below, United Rentals outlines how companies can use telematics to track equipment and increase its utilization, properly maintain assets and make smarter purchasing and rental decisions. 

To get a broad-based look at all their company assets, contractors are turning to systems that track equipment location, hours, idle time and much more across the entirety of their fleets. These systems make use of tracker systems – basically little black boxes – to keep track of and manage not only your mobile fleet but everything else on your equipment list, including attachments, tools and trailers.  

 Following a decline of 3.4% in 2020, Canada's construction industry is now forecast to grow by 0.6% in 2021, up from the previous forecast of -2% in the Q4 2020 update, as activity in the housing market has been stronger than expected. 

Estimates suggest that stolen equipment and supplies from Canadian construction jobsites cost nearly half a billion dollars every year. Whether it’s equipment or vehicles, tools or even building materials, construction sites are losing assets and resources at an alarming rate.