Canada PSAC Strike
Limited Impact of Public Sector Strike on Economy,
but Far-Reaching Implications for CRE
Over 150,000 public sector workers participated in a legal strike in April, demanding higher wages and a better workplace environment. While the job action should not have a significant impact on Canada’s economy, the revised remote work arrangement as part of the tentative agreements will delay the recovery in the office and downtown retail sector in Ottawa.
Key Features Include:
- Impact of the strike on the national economy in the short-term and possibility of spillover to other sectors.
- Further risks arise for the office sector, given already muted demand in Ottawa.
- Downtown retailers in Ottawa will face a delayed recovery, while suburban operators may see robust gains.