Recent reports suggest that the Canadian economy will benefit from new action in the second half of the year, with additional information pushing the industry toward new levels of growth.
Design Engineering reported that the most recent manufacturing details for the country experienced strong growth among many companies, enabling larger hiring efforts for engineers.
While the first two quarters of 2014 led to concerns, as the respective 1.2 percent and 2 percent growth rates in each were below Bank of Canada predictions, analysts believe the second half of the year will help improve engineering employment.
One of the biggest reasons for this optimism is that the U.S. economy is seeing some of its highest levels of production in more than half a decade, which is a great sign for Canadian manufacturing sales since nearly half of all Canadian manufacturing sales are exported with the vast majority going to the U.S.
Alberta a great place for growth
A recent report from BMO Economics concerning economic growth in Canada found that Alberta will easily be one of the most successful regions of the country for engineering companies.
Alberta's population, employment and retail figures are leading all provinces in the country. This has led many to believe engineering companies, specifically those excelling in the energy and agricultural sectors will see plenty of success.
Alberta's overall gross domestic product growth in the next year may rise as high as 3.5 percent, with inflation also just missing a six-year high. This has been said to give the area more appeal than ever for many commercial clients considering moving there.
"Oil and gas companies and agricultural firms dominate the scene, but we see significant opportunity for firms that support the industry spinoffs," said Robert Hayes, a senior vice president of Alberta and NWT at the BMO. "This particularly applies to the engineering sector, where our clients are experiencing considerable growth."
Engineering construction on the rise
Engineers are often needed for a number of roles in the construction process, and engineering-related expenses have been noted to be some of the best areas for investment as a means to this end. According to Reed Construction Data, from 2000 to 2011, total new construction spending across Canada rose by 148 percent. The biggest sub-component of the industry to see gains was engineering, which saw spending up 179 percent.
The numbers back up a bigger chance for expansion in engineering spending. In 2000, it represented two-fifths of all construction spending and by 2011, that figure advanced to 45 percent.
Different aspects of the industry all saw similar results. Bridge-related engineering spending rose by more than 500 percent, with waterworks up 432 percent and electric power spending up nearly 350 percent.
As infrastructure concerns continue to take effect throughout Canada and more buildings government sectors work to make their creations readily viable and future-proof, engineering spending will only rise further as a result, bolstering the reputation of the field even more.