The great Canadian skills mismatch: People without jobs, jobs without people and more
Key findings: The construction industry is one of the big beneficiaries of higher carbon prices over the next few years. By 2025, higher carbon prices will spur a wave of investment in new construction, generating jobs and income. Income in the construction industry is over $2.5 billion higher in 2025 with aggressive carbon pricing than with the status quo. An additional 19,000 jobs in construction would be created due to higher carbon prices, and another 20,500 net new jobs would be created in other sectors of the economy. Saskatchewan sees the highest proportion of new jobs created in construction from high carbon prices, followed by Quebec, Ontario, New Brunswick, Alberta, and British Columbia. Stringent carbon prices create an additional $12.5 billion in business investment in 2025 and $5.7 billion in increased household spending, led by consumer spending (on things such as new home construction and retrofits). This would be followed by renewable energy, carbon capture and storage, commercial construction, and building efficiency projects. Overall, the major economic impact of higher carbon prices is to shift economic activity, which is consistent with other studies. The construction industry is a net beneficiary of these shifts in the medium-term.