Construction industry faces high inflation, job action from workers

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 99%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The construction industry is feeling the pressures of inflation. Statistics Canada says residential construction costs have increased 25 per cent since last year. Meanwhile, workers are also demanding higher pay to keep up with inflation.

With fear of shortages and price fluctuations, Gower said the construction industry has had to rely more on stockpiling supply rather than just-in-time delivery.

On top of that, the high price of fuel driven by the pandemic and Russia's invasion of Ukraine has also increased costs for shipping. That's pushed some construction companies to buy products locally, Grower said.Workers in the construction industry have also been fighting for higher pay to meet the inflationary pressures on their living expenses, even initiating job action. Thebegan a province-wide strike on Monday after 75 per cent of its members voted to reject a contract proposal.

"Carpenters, like other construction workers, kept working on job sites to build critical infrastructure all the way through the COVID crisis," union president Mike Yorke said in a news release on Thursday. "Their work was seen as essential during the pandemic and because of this, and because of the spiralling cost of living increases, our Union and our members believe that wages now have to be increased.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

A general strike that would absolutely get peoples attention, even high high politicians. Only problem is they may invoke emergency measures

Man, imagine if all minimum wage works took job action for even just a single day…😂

Construction industry? Slaves!

iTs RuSsIaS fAuLt.

FYI. There's way too many condos being built. Everything is going to be conjested with traffic and over crowding.

Understand inflation easily. 5 reasons why Prices are going up and 10 things will be more expensive till the end of 2022

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. profit forecasts weaken as companies assess inflation risksExpectations fall as costs surge for oil and other supplies and interest rates rise The world according to profits ....
Source: globeandmail - 🏆 5. / 92 Read more »