{"id":65328,"date":"2025-10-14T12:00:38","date_gmt":"2025-10-14T12:00:38","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/10\/14\/posthaste-build-baby-build-strategy-risks-labour-shortages-cost-overruns\/"},"modified":"2025-10-14T12:00:38","modified_gmt":"2025-10-14T12:00:38","slug":"posthaste-build-baby-build-strategy-risks-labour-shortages-cost-overruns","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/10\/14\/posthaste-build-baby-build-strategy-risks-labour-shortages-cost-overruns\/","title":{"rendered":"Posthaste: \u2018Build, baby, build\u2019 strategy risks labour shortages, cost overruns"},"content":{"rendered":"<p> \n<br \/><br \/>\n<iframe loading=\"lazy\" height=\"100%\" src=\"https:\/\/cdn.jwplayer.com\/videos\/0ySpwdgu.mp4\" width=\"100%\"><\/iframe><br \/>\n<img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg\" title=\"\" \/><\/p>\n<p> Prime Minister Mark Carney\u2019s plan to transform the Canadian economy has overlapping segments that may end up competing for a shortage of skilled workers, which could lead to cost overruns, according to a new report from Deloitte. <\/p>\n<p> The plan is three-pronged: double housing construction, fast-tracking major projects and unlocking $500 billion in private investment. <\/p>\n<p> But all three initiatives happening at the same time would require between 410,000 and 520,000 additional workers by 2030, amounting to about a one-third increase in the current number of construction workers, according to a <\/p>\n<p>                        new report from Deloitte. <\/p>\n<p> \u201cIt appears we may be setting the stage for a new perfect storm, this time on a national scale, in which governments, businesses, and real estate developers all compete simultaneously for the same pool of trade workers,\u201d the report said. <\/p>\n<p> Deloitte points to two previous instances where multiple major projects cannibalized workers and led to cost overruns due to staffing competition. <\/p>\n<p> In 2022, four megaprojects in British Columbia \u2014 Coastal GasLink, the Trans Mountain Expansion, LNG Canada and Site C \u2014 all reached peak construction around the same time, with the resulting bidding war for workers leading to added costs and delays. <\/p>\n<p> Deloitte said a similar scenario occurred for about 15 years during the Alberta oilsands boom. <\/p>\n<p> \u201cIf the build, baby, build ambitions materialize, the national job market could start to look a lot like B.C. and Alberta at peak overlap, when it was not a shortage of money or projects holding back activity, but the lack of available workers,\u201d the report said. <\/p>\n<p> At the same time, Canada is looking to reduce the number of immigrants as it tries to ease a housing crisis and the strain on public services. The country is targeting 365,000 new permanent residents in 2027, down from 471,771 in 2023. <\/p>\n<p> Deloitte recommends the federal government prioritize construction trade workers among the crop of new Canadians. <\/p>\n<p> To meet the labour demand, Deloitte also recommends recruiting underrepresented groups into the trades, such as women, youth and people of colour, while also reskilling workers in other specialties into more in-demand trades. <\/p>\n<p> \u201cThis can\u2019t be solved by any single actor,\u201d the report said. \u201cIt will take a coordinated, sustained effort by federal and provincial governments, employers and project owners, colleges and training providers, apprenticeship authorities and unions.\u201d <\/p>\n<hr \/>\n<p> <em><strong>\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em> <\/p>\n<hr \/>\n<p> <strong><br \/> <img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-1758646\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png\" width=\"838\" \/><\/strong> <\/p>\n<p><img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/10\/jobs-september-2025.jpg\" title=\"\" \/><\/p>\n<p> The Canadian economy added 60,000 jobs in September, with the entirety of added jobs coming in full-time positions. <\/p>\n<p> Manufacturing, a sector hit hard by U.S. President Donald Trump\u2019s tariffs, reported its first jobs gain since January, adding 28,000 jobs in September. <\/p>\n<p> The jobs numbers meant unemployment in Canada held steady at 7.1 per cent. <\/p>\n<p> The numbers are encouraging for the Canadian economy, but economists remain mixed about what it might mean for interest rates. <\/p>\n<p> Read more here.\u00a0 <\/p>\n<p><img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/07\/subhead-1.jpg\" title=\"\"><\/p>\n<ul>\n<li>Provincial election in Newfoundland and Labrador<\/li>\n<li><strong>11:30 a.m.: <\/strong>Chat with Ontario Premier Doug Ford at the Empire Club<strong><br \/> <\/strong><\/li>\n<li><strong>12:10 p.m.:<\/strong> Bank of Canada deputy governor Carolyn Rogers gives fireside chat in Vancouver<\/li>\n<li><strong>Earnings: <\/strong>JPMorgan Chase &amp; Co., Johnson &amp; Johnson, Wells Fargo &amp; Co., Goldman Sachs Group Inc., BlackRock Inc., Domino\u2019s Pizza Inc.<\/li>\n<\/ul>\n<p> <strong><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-3080180\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg\" width=\"838\" \/><\/strong> <\/p>\n<p><img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/10\/Screenshot-2025-10-14-070726.png\" title=\"\" \/><\/p>\n<figure class=\"embedded-image\"><\/figure>\n<hr \/>\n<p> <strong><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-3080181\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg\" width=\"838\" \/><\/strong> <\/p>\n<ul>\n<li>Canada\u2019s job growth beats expectations as manufacturing rebounds<\/li>\n<li>Canada Post workers switch to rotating strikes, mail to start moving<\/li>\n<li>Here\u2019s one way to increase the size of your house without moving<\/li>\n<li>\u2018Jolted back to life\u2019 jobs market shouldn\u2019t stop Bank of Canada from cutting rates again, some economists say<\/li>\n<\/ul>\n<p> <img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-2059284\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png\" width=\"838\" \/> <\/p>\n<p> Canadians should consider using the RRSP when it comes to U.S. stocks, as a dividend received in a TFSA can face withholding taxes as the Internal Revenue Service does not recognize the TFSA as a tax shelter. <\/p>\n<p>                        Read more here. <\/p>\n<hr \/>\n<div class=\"x_elementToProof\"><span>Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at\u00a0<\/span>wealth@postmedia.com<span><\/span><span>\u00a0with your contact info and the gist of your problem and we\u2019ll find some experts to help you out while writing a Family Finance story about it (we\u2019ll keep your name out of it, of course).<\/span><\/div>\n<hr \/>\n<h2>McLister on mortgages<\/h2>\n<p> Want to learn more about mortgages? Mortgage strategist Robert McLister\u2019s <\/p>\n<p>                        Financial Post column <\/p>\n<p>                        can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Plus check his <\/p>\n<p>                        mortgage rate page<\/p>\n<p>                         for Canada\u2019s lowest national mortgage rates, updated daily. <\/p>\n<hr \/>\n<h2>Financial Post on YouTube<\/h2>\n<p> Visit the Financial Post\u2019s <\/p>\n<p>                        YouTube channel<\/p>\n<p>                         for interviews with Canada\u2019s leading experts in business, economics, housing, the energy sector and more. <\/p>\n<hr \/>\n<p> <em>Today\u2019s Posthaste was written by Ben Cousins\u00a0with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em> <\/p>\n<p> Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0<\/p>\n<p>                        posthaste@postmedia.com<\/p>\n<p>                        . <\/p>\n<hr \/>\n<ul class=\"related_links\">\n<li>Why is the stock market doing so well?<\/li>\n<li>Investors brace for a stock market melt-up<\/li>\n<\/ul>\n<p> <em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here<\/em> <\/p>\n<p><\/img><br \/>\n<br \/>\n<br \/>Posthaste: \u2018Build, baby, build\u2019 strategy risks labour shortages, cost overruns<\/a><br \/>\n<br \/>2025-10-14 12:00:38<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prime Minister Mark Carney\u2019s plan to transform the Canadian economy has overlapping segments that may end up competing for a shortage of skilled workers, which could lead to cost overruns,&#8230;<\/p>\n","protected":false},"author":2,"featured_media":65329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-65328","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/65328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=65328"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/65328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/65329"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=65328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=65328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=65328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}