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More than 300,000 construction jobs axed so far in this recession

More than 300,000 construction jobs axed so far in this recession

Construction lost 63,000 jobs in the first quarter of this year and has shed more than 300,000 since the recession bit hard after Lehman Brothers collapsed in September 2008. The latest employment figures are based on a slightly different assessment of the industry (Standard Industrial Classification 2007 is used) and paint an even gloomy picture of the trajectory of construction jobs than did the previous series (see graph). At peak in September 2008 the statisticians now reckon there were 2,364,000…

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Good news in the employment figures, but the future for construction jobs remains uncertain

Good news in the employment figures, but the future for construction jobs remains uncertain

The latest employment data will provide economists, politicians and strategists with plenty to chew on. The headline figure for unemployment jumped by 43,000 to top 2.5 million for the first time since 1996, the number of people in employment fell by 89,000 and the number wanting a job rose again. But there are certainly positive signs. The claimant count is down by 32,900 and the actual number of hours worked is on the rise. And one figure that probably won’t…

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Fewer redundancy in construction, but the future remains bleak on jobs

Fewer redundancy in construction, but the future remains bleak on jobs

For the optimists in the construction industry there is much hope to be gleaned from the latest employment figures. Equally for the pessimists there is plenty within the numbers to fret about. So what should we make of the latest batch of labour market numbers that, among other things, show that 163,000 redundacies were recorded in construction in 2009?