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indicates fewer ICI contractors than last year have a positive outlook for the upcoming year but OCS director of research Katherine Jacobs suggests there’s still significant optimism with lots of work in the marketplace.
This year the contractors were “not quite as optimistic but still had a very strong outlook for this coming year.” Contractors pointed to rising costs and project delays as the top two consequences of labour market challenges — 73 per cent identified that cost increases would be a direct result of skilled labour shortages, while 52 per cent said projects would be delayed, the same percentage of firms that said they would use less qualified labour.Among other findings:
Just over one-third of contractors reported having projects cancelled by the owner. Of those, 56 per cent report having projects postponed to a later start date, up slightly from 53 per cent last year. “More of them are saying that it’s important to the bottom line,” said Jacobs. “I wish we’d seen a bit more movement on the budget line because, you know, if you really want to adopt it, you need to put some money towards it.”
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