Job prospects Renovation Contractor in Prince Edward Island

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This occupation includes job titles whose primary duties and responsibilities lead to positive environmental outcomes. Job Bank uses a list of occupations that were identified as "green" through a task-based analysis conducted by the United States’ Occupational Information Network (O*NET), which was recognized by the Organization for Economic Cooperation and Development (OECD) and adapted to the National Occupational Classification (NOC) in Canada. This list may change over time. Learn more.

Explore current and future job prospects for people working as a "renovation contractor" in Prince Edward Island or across Canada.

Job opportunities in Prince Edward Island

These outlooks were updated on December 11, 2024.

Prospects over the next 3 years

The employment outlook will be very good for Home building and renovation managers (NOC 70011) in Prince Edward Island for the 2024-2026 period.

The following factors contributed to this outlook:

• Employment growth will lead to several new positions.
• Several positions will become available due to retirements.

The prospect for employment in this occupation is good as there continues to be a shortage of workers and unfilled vacancies in the province due to strong gains in residential investment. Housing shortages and investments in new and affordable housing are expected to sustain demand for these positions over the forecast period. As interest rates continue to fall, residential investment should strengthen resulting in increased housing starts in the province over the next few years. Population growth has been, and continues to be, a key economic driver supporting residential building activity in the province. The announcement by the federal government to reduce immigration targets will mean a slowdown in population growth over the forecast period which should in turn help alleviate some pressure on the Island's housing market.

Opportunities are expected to arise as there will be a need to replace workers who retire. The large majority of the employed labour force in this occupation worked in the construction industry, specifically in the residential building construction subsector and for specialty trade contractors. This is a relatively small occupational group in P.E.I. Because most home builders and renovators are self-employed, entry into this occupation usually requires a business investment.

Persons in this occupation often have a trades certificate or additional post-secondary education along with significant experience in the residential construction segment. Knowledge of green building practices, demonstrated through Leadership in Energy and Environmental Design (LEED) certification, may result in greater career prospects.

Here are some key facts about Home building and renovation managers in Prince Edward Island:

• Approximately 600 people work in this occupation.
• Home building and renovation managers mainly work in the following sectors:
  • Construction (NAICS 23): 94%
  • Fishing, hunting and trapping (NAICS 114): 6%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 95% compared to 84% for all occupations
  • Part-time workers: 5% compared to 16% for all occupations
• 45% of home building and renovation managers work all year, while 55% work only part of the year, compared to 59% and 41% respectively among all occupations. Those who worked only part of the year did so for an average of 38 weeks compared to 41 weeks for all occupations.
• 80% of home building and renovation managers are self-employed compared to an average of 13% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: more than 95% compared to 51% for all occupations
  • Women: less than 5% compared to 49% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: 14% compared to 11% for all occupations
  • high school diploma or equivalent: 42% compared to 28% for all occupations
  • apprenticeship or trades certificate or diploma: 21% compared to 11% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 12% compared to 25% for all occupations
  • bachelor's degree: 9% compared to 17% for all occupations
  • university certificate, degree or diploma above bachelor level: less than 5% compared to 8% for all occupations