WHITEHORSE – The Yukon Liberal Caucus is extending congratulations to Yukon contractors on another month of increased investment in building construction across the territory.
In Statistics Canada data released on June 15, 2023 for April 2023, seasonally adjusted investment in building construction increased in the Yukon by 69.2% – or $106.2 million – since April 2022.
“Congratulations to contractors across the Yukon on another increased month of building investments. Once again, thanks to your commitment to excellence and craftsmanship, combined with policies and plans supported by our Yukon Liberal Caucus, residential and non-residential building construction continues to increase significantly across the territory,” said Premier Ranj Pillai.
Investment in residential building construction increased by 90.1% since April 2022, and by 50.9% since last month, while investment in non-residential building construction increased by 26.4% since April 2022 and 2.6% since March 2023.
Nationally, investment in building construction decreased by 1.7% from April 2023 to April 2022.
Investment in building construction is an economic indicator representing the spending value of building construction and the health of the overall economy. Strong investment in building construction typically signals strong economic growth. Earlier in June, the Yukon Liberal Government announced that April 2023 also saw a strong increase in building permits across the territory. In April 2023, the Yukon Liberal Government passed a budget with significant investments in housing and infrastructure that Yukon residents and businesses need to thrive.
“Month over month, the Yukon continues to show strength in key economic indicators like investment in building construction, employment, and the value of building permits. The ongoing investment in residential and non-residential buildings shows that the policies of our Yukon Liberal government are setting up the private sector for success and that we are building a Yukon where everyone has a place to call home,” concluded Pillai.