Construction in the oilsands will slow down from 2015 to 2017 before picking up steam in 2018.
That’s according to a new report by BuildForce Canada, which released its 2015 Alberta Oil Sands Highlights today.
Construction workers will see job losses and lowered investment over the next three years ahead of a projected turnaround in 2018.
The report indicates that by 2024 construction employment in the oilsands will have increased by 10 per cent from 2014 levels.
BuildForce expects to see job losses of 15 per cent or more across the board during the downturn.
Lost jobs will slowly be added back once the expansion of oilsands facilities resumes after the three year slow down.
In situ projects are expected to show stronger growth at the end of the 10-year forecast, rising by 10,000 jobs.
At the bottom of the cycle in 2017, construction employment in the oilsands will be down by 15 to 17 per cent from 2014 levels, the first drop since 2009.
Major projects scheduled in British-Columbia, Saskatchewan, and Manitoba through the downturn in 2015-2017 is expected to draw large numbers of workers out of the province and the oilsands.
The report indicates that oilsands projects will need to attract those workers back during the growth period from 2018-2024.
It also forecasts a significant loss of skilled tradespeople as an aging workforce retires.
