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Wales' Builders Optimistic Amid Labor Shortages and Costs; Toronto Faces Job Losses

9/17/2025

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Summary

Story summary

Wales' construction industry is recovering in H1 2025, with 53% of builders reporting increased workloads, though 76% face skilled labor shortages impacting timelines.
Rising material costs affected 87% of firms, reducing profits for 55% and leading to recruitment restrictions for 41%.
Despite these challenges, 65% of builders remain optimistic for the next two quarters.
In Toronto, residential construction is experiencing significant job losses due to the lowest housing starts in nearly 30 years.
High development costs and interest rates are causing project delays, with the Altus Group predicting a potential loss of 41,000 construction jobs in the GTA by 2029.

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Story summary

Wales' construction industry is recovering in H1 2025, with 53% of builders reporting increased workloads, though 76% face skilled labor shortages impacting timelines.
Rising material costs affected 87% of firms, reducing profits for 55% and leading to recruitment restrictions for 41%.
Despite these challenges, 65% of builders remain optimistic for the next two quarters.
In Toronto, residential construction is experiencing significant job losses due to the lowest housing starts in nearly 30 years.
High development costs and interest rates are causing project delays, with the Altus Group predicting a potential loss of 41,000 construction jobs in the GTA by 2029.