Canada’s construction worker shortage stands in way of housing boost, CMHC says

I’m Ann Gaviola with your top business headlines right now. As Canada’s National Housing agency reports that housing starts are falling short of growing demand. Experts say addressing a long standing construction worker shortage is key to boosting housing supply. The growing labor shortage was cited in a housing supply report by the Canada Mortgage and Housing Corporation. The agency noted it’s one of three factors contributing to longer construction times. A report by RBC assistant chief economist Robert Hogue says Canada could need more than half a million additional construction workers. To build all the homes that will be needed between now and 2030, an engineer at Boeing alleges the aircraft company is taking manufacturing shortcuts that could lead to jetliners breaking apart. The engineer, Sam Sala Port, testified before AUS Senate subcommittee on Wednesday about Boeing 787 Dreamliner, saying the company is putting out defective airplanes. Salapur spoke while another Senate committee held a separate hearing on Boeing safety culture. The company has been under multiple investigations. And in crisis mode since a door plug panel blew off a 737 Max jetliner during an Alaska Airlines flight in January. Tesla is asking shareholders to restore a $56 billion pay package for CEO Elon Musk and move the company’s corporate home to Texas. The pay package was rejected by a Delaware judge earlier this year. The proposals come as the electric vehicle maker struggles with falling global sales, slowing electric vehicle demand, an aging model lineup and a stock price that has tumbled nearly 40% so far this year. Tesla has begun layoffs this week that will affect 14% of its global workforce. Canada’s $70 million Lotto Max jackpot is still unclaimed. Lottery officials report there was no winning ticket matching the seven numbers drawn earlier this week for the grand prize. So the jackpot carries over to Friday night’s draw again with a $70 million prize up for grabs, along with 13 Maximilian prizes of $1,000,000. Those are the top business stories right now. For more, you can head to globalnews.ca. I’m Anne Kaviola.