There could be 31,000 fewer construction jobs in Alberta by 2019 according to a report by BuildForce Canada. The province’s lower construction volume due to the oil downturn will mean a 28 per cent reduction in the building sector’s labour market compared to the peak of 2014. The report suggests that, despite cutbacks in the oil sector, commercial building will be steady in 2016 due to current projects and then slow in 2017 before resuming growth in the following years. However, some of that activity will be due to shutting down plants and ongoing maintenance. For the residential sector there will be a slowdown in the medium term with around 9,000 jobs lost through 2019.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: