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Good Morning! 💚 Little by little, we are getting there. According to the Canadian Climate Institute think-tank, Canada's carbon emissions dropped 6.4% from 2019. However, we have a long way to go if we are going to meet our pledge to drop emissions by at least 40% by 2030.

One of the country’s other major challenges is labour. While Canada plans to accept more and more immigrants in the coming years, are newcomers getting connected with jobs that fully utilize their skills? Keep scrolling to get the latest.

MARKETS

*Stock data as of last market close; currency, oil and crypto data as of 10:00 PM ET February 27th, 2023.

Economy: Total construction starts in the U.S. fell 27% in January. According to Dodge Construction Network, the month saw nonresidential building starts fall 38%, residential starts lost 20%, and nonbuilding starts declined by 16%. But experts at Dodge stressed that the dip should not be taken as the beginning of a cyclical downturn in the industry as many mega-projects have begun over the last few months, obscuring the underlying trend in construction activity.

THE BIG STORY

Report: Skilled immigrants often underemployed

Canada plans to welcome 465,000 permanent residents in 2023, 485,000 in 2024 and 500,000 in 2025. But are they thriving and filling labour gaps as intended?

Highly skilled immigrants are often underemployed due to poor recognition of foreign credentials, a report from RBC Bank economists shows. It noted that eliminating those barriers could help address worker shortages. And despite being younger and more academically accomplished, immigrants tend to do worse when it comes to finding a suitable job in Canada.

How to enter the workforce: In the past, groups like BuildForce Canada have questioned the nation’s focus on attracting immigrants with post-secondary education. The group also noted that some immigration programs for skilled workers are difficult to get into due to strict language and educational requirements. They also may require Canadian work experience.

Not always thriving: According to Statistics Canada, recent immigrants (those who immigrated in the years 2016 to 2020) were more likely to be in the bottom income quintile (24%) compared to both long-term immigrants (14%) and Canadian-born (13%).

Bridging the gap: In Toronto, the permanent residence pilot program has expanded its efforts to offer 1,000 out-of-status workers a pathway to permanent residency. And trades training providers like ACE Community College in B.C. specifically target underemployed new Canadians to get them through trades training and get them earning more. This list showcases programs across the country trying to connect immigrants with construction careers.

What can be done: BuildForce has encouraged the government to shift its focus from applicants with degree-level credentials. They also noted that as Europe faces its own worker shortages, recruitment efforts should be spent on countries such as India, the Philippines, Nigeria and Mexico.

NEED TO KNOW

The week's headlines

🏗️ Officials in Toronto are demanding answers from the Ontario Line project team. The cost of the project has gone from $10.9 billion to at least $17 billion. While the original completion date was set for 2027, the project team now won’t say when it will be done. Officials plan to form a sub-committee to investigate the issue.

🚄 While efforts to build high-speed rail between Edmonton and Calgary have long been underway, support is growing for similar service between Toronto and Montreal. City officials in Montreal are asking the federal government to support investigating a rail line that would allow for a three-hour train trip between the two cities.

🎓 The biggest trades scholarship program in Canadian history has launched. Schulich Builders will be dedicated to Ontario students pursuing a career in the skilled trades. In its first year of operation, more than $3 million is committed to combat labour shortages and highlight the importance of skilled trades in Canada.

🏠 Some experts say Canada’s foreign buyer ban is hurting efforts to build affordable rental housing. According to the Globe and Mail, the law has led to the cancellation of hundreds of commercial property deals because the law’s definition of residential property includes land that is zoned for residential or mixed use. The law also dictates that no more than 3% of any money going to a residential purchase can come from a foreign source.

PEOPLES MOVES

Who was appointed to the board of directors of the Canada Development Investment Corporation? What EllisDon employee has made the Tamil Canadian Center for Civic Action’s Top 30 Under 30 list? Find out with this month’s People Moves. The February edition features companies like Kinetic Construction, Nomodic, Oxford Properties, Bird Construction, Wales McLelland, Impact Engineering and more. It also has updates from groups like Infrastructure BC, Canada Development Investment Corporation and the Ontario Road Builders’ Association.

PROJECT SPOTLIGHT

EllisDon to build Ontario hospital project

Getting well: The 1.2 million square foot, 11-storey modernized South Niagara Hospital will consolidate and expand acute care services across the region. In addition to emergency, critical care and surgical services, the hospital will feature several centres of excellence specializing in stroke, complex care, geriatrics and geriatric psychiatry, and wellness in aging. Not only is the project seeking LEED Silver, it aims to be the first WELL-certified hospital in Canada, incorporating design elements that promote health and well-being. The hospital will also feature an Indigenous healing space and garden with input from Indigenous people. EllisDon is expected to start work on the $3.6 billion facility this summer and occupancy is planned for 2028.

PROJECT UPDATES

PCL Construction has been recognized for an innovative Toronto care home project

Maple Reinders has won a $204-million contract from the Royal BC Museum

Site C Project has lifted the first massive turbine rotor into place

Westbank chosen by University of Toronto for massive housing project

Qualico and ATCO are planning Canada’s first hydrogen-powered community

WHAT WE’RE TALKING ABOUT

READ: 🚔 Canadians weigh in on mortgage fraud

VIDEO: 🧱 High school students learn masonry brick by brick 

READ: 📉 PCL leader gives advice for looming recession 

TWEET: 🪨 Conveyor belt keeps debris moving for Eglinton Crosstown West Extension

READ: ⛑️ Construction union donates $10k to Syria/Turkey earthquake victims

SITENEWS SWAG

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Here's to a great rest of the week!