Construction industry employment down 18%

The number of people working in construction has fallen by almost a fifth over the 12 months to August, according to figures released by the Central Statistics Office today.

The CSO said the collapse in the sector had worsened during the summer with the result that employment in the sector had fallen 17.9 per cent by the end of August. During the 12 months to July, employment in the sector was down 16 per cent.

According to the survey of around 1,000 building firms employing 5 or more people, jobs in construction have fallen every month since April last year.

Alan McQuaid economist with Bloxhams Stockbrokers said there has been a sharp fall in employment in the building sector so far this year and warned a further “significant deterioration is likely over the next six to twelve months without corrective policy measures from Government”.