‘Double-edged sword’: Okanagan workforce braces for record number of people retiring – Okanagan | The Canadian News

The people who live in the Okanagan are a bit older than the rest of the country.

According to census information released by Statistics Canada on Tuesday, Penticton, BC, is the oldest city with a median age of more than 48.9 years. In Vernon, the median age is around 47.2 years old and in Kelowna residents are around 43.3 years old.

“It was quite a surprise to be the oldest demographic in Canada and also the fact that we have increased our population by such a large amount,” said Helena Konanz, board member of the Penticton Chamber of Commerce.

Now, the number of people approaching retirement is at an all-time high and is one of the main factors behind BC’s labor shortage.

“Here in Penticton, we also have that problem. If you walk down Main Street through our businesses, you’ll see that everyone is looking for people to work with,” Konanz said.

The Southern Interior Construction Association in Kelowna is experiencing exactly that. They are struggling to find merchants to fill hundreds of vacant positions.

“Mainly due to people retiring and nowadays it has been amplified. There are a lot of jobs out there, the construction industry is very, very busy in BC,” said Executive Director of the Southern Interior Construction Association, Clifford Kshyk.

The association said the construction industry has already seen a five percent reduction in the workforce in recent years.

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“We anticipate that by the year 2027 there will be about 27,600 vacant construction positions to fill,” Kshyk said.

“And we also believe that about 20 percent of those job openings, about 5,600, will not be filled.”

Kshyk added that labor shortages are a double-edged sword.

“Obviously retirement is a key factor in this, but the other challenge is getting young people to look at exchanges as a career option,” Kshyk said.

According to Statistics Canada, the working-age population that produces most of the goods and services in the Canadian economy has reached a tipping point, with more than 20 percent of working-age people between the ages of 55 and 64 years old.

“The construction industry in BC is one of the largest employers and if we don’t have people to do the infrastructure, build the roads that have been damaged or the new hospitals or schools that are required, yes, it’s going to be very difficult. Kshyk said.