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Economic Impacts

About the fact sheets

Each year, CHBA produces Economic Impact Fact Sheets that summarizes the estimated level of economic impact residential construction has in terms of investment, employment, and wages paid. These estimates cover the industry’s contribution at the national, provincial, and city level as well as other communities that CHBA members serve. Both new home construction and renovation services are crucial to the well-being of Canadian communities. Not only do they provide and maintain a place for Canadian to call home, the industry is a significant source of job creation for members of the community. The fact sheets have been updated to reflect economic contributions for 2023, based on data reported by Statistics Canada and Canada Housing and Mortgage Corporation (CMHC).

For your convenience, you can download all fact sheets in PDF form, or find the individual fact sheets using the PowerBI Dashboard at the bottom of this page.

Economic Impacts of the Residential Construction Industry - 2023 Fact Sheets [Click for PDF]

KEY 2023 FINDINGS:

  • This past year, just over 880,000 jobs were supported by new home construction, renovation, and repair—either directly or through roles that closely support the construction process. These indirect roles would likely not exist without the industry. Residential construction continues to be a leading employer in Canada.
  • Approximately 60% of employment stems from home renovation and repair, with 40% attributed to new home construction.
  • Employment resulted in $62 billion in wages paid over 2023, which is an important source of consumer spending within local communities.
  • Annual investment of $182.8 billion represents the value of work put in place throughout 2023. This was roughly 13.5% below the nominal investment estimated for 2022, reflecting the construction slowdown caused by high interest rates.
Chart showing 352,288 jobs in new construction and 525,820 jobs in renovation and repair

Tips for using the Power BI Dashboard

  • Power BI is a business analytics service by Microsoft. It aims to provide interactive visualizations and business intelligence capabilities with an interface simple enough for end users to create their own reports and dashboards.
  • The dashboard will allow you to visualize the data efficiently, with the ability to click through different locations.
  • If you would like to take a screenshot of a specific location’s data, you can use the “Snipping Tool” on your computer:
    • To open the Snipping Tool, press the Start key, type snipping tool, and then press Enter.
    • Click on “New” and take a screenshot of the dashboard.
    • After that, you can copy and paste the image wherever you like or save it on your computer.

 

Contact Information
For questions or comments on the Economic Impact Fact Sheets, please email communications@chba.ca.