Labor shortages are impacting investment plans and generating “tens of billions” in lost sales at a majority of companies in Canada, according to a report by one its largest business advocacy groups.
The Business Council of Canada released a poll of 80 of its members on Friday that found two-thirds claiming the labor crunch is forcing them to cancel or delay projects, while 60% say it’s led to revenue losses. Nearly a third say they’ve been forced to relocate work outside of Canada or led to a loss of market share. In total, the survey found 80% of these companies are reporting trouble filling positions.
