EMPLOYMENT IN construction firms fell by 15.2 per cent over the past year, according to the latest data from the Central Statistics Office.
The monthly employment index decreased from 109.8 in June 2007 to 93.1 in June 2008, the CSO said.
"The index was up slightly to 93.1 from May's reading of 92.1," said Alan McQuaid of Bloxham Stockbrokers.
"However, this still reflected a fall of 15.2 per cent over the past 12 months. The report also confirmed that the final figure for May showed a fall of 14.5 per cent when compared to the same month in 2007," Mr McQuaid added.
"This index has been in steady decline over the past 12 months or so and all the indications are that things are likely to get worse before they get better."
John Sheehan, an analyst with NCB Stockbrokers, said the index was the latest survey, along with anecdotal evidence, which indicated a sharp deceleration in the construction industry in the past year, particularly in relation to housing.
"The last set of housing registrations were down for July were down 84 per cent year-on-year. That is going to have an effect on jobs," he said.
A drought of new construction projects led to record lay-offs in the troubled sector in July, according to the most recent Ulster Bank Construction Purchasing Managers' Index which signalled contraction for the 14th consecutive month.
The Permanent TSB/ERSI house price index for June revealed that house prices fell for the 16th month in a row in June, with national house prices down by 5 per cent in the first half of 2008.
