A labor shortage cost businesses in Nova Scotia a whopping $1B in missed opportunities in 2022. According to Become A Canadian, businesses in the construction and manufacturing industries have missed out on potential sales and contract opportunities because of a limited workforce.
In the words of Duncan Robertson, a senior policy analyst in Nova Scotia with the Canadian Federation for Independent Business (CIFB):
“Labor shortages pose a serious concern for half of our members in Nova Scotia. Though we acknowledge that a shortage of workers is a problem for many sectors, we in the construction and manufacturing industries missed out on the most opportunity due to the lack of workers. The world's landscape has changed, and the cost of doing business and the cost of living have significantly increased. So we need enough workforce to attract and retain business opportunities."
Become A Canadian could confirm that the consequences of these labor shortages on communities is huge. For instance, those missed opportunities caused by labor shortages can affect the ability of a business owner to pay down their debt or expand and support their community.
Thousands of foreign tradespeople needed before 2030
Provincial officials in Nova Scotia have announced that more than 10,000 new tradespeople will be needed in the province by 2030.
Become A Canadian says the government is turning to immigration to fix this labor shortage. They are making several arrangements to ensure highly skilled individuals are brought to Nova Scotia to fill in available positions.
Some officials recently attended a construction-specific event in London, England, to interact with skilled people who want to work in Canada. At least 800 people attended, and more than 140 high-potential candidates are already being reviewed.
