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Labor Crunch Spurs Revenue Losses, Canceled Projects in Canada

  • Business lobby group survey shows broad impacts among firms
  • CEO calls for higher immigration level to meet economic needs
Job vacancies in Canada have hit a record high of more than a million.
Job vacancies in Canada have hit a record high of more than a million.Photographer: James MacDonald/Bloomberg

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.