May 4, 2023 – CBC PEI: The cooling of the PEI economy in 2022 is a reflection of the Island’s struggles recruiting workers, say representatives of the construction and agriculture industries.
PEI led the provinces in economic growth from 2019 to 2021, but with 2.9 per cent growth in 2022, the province slipped below the national average of 3.6 per cent.
Construction was one of the sectors dragging growth down, with construction GDP actually negative, dropping 3.1 per cent. That followed years of strong growth, even through the pandemic.
For example, 2021 was a record-breaking year for the industry, said Sam Sanderson, general manager of the Construction Association of PEI.
“We gradually worked our way up to that 2021 year and then we hit our plateau as an industry,” he said.
Read the full CBC PEI story by Kevin Yarr here