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Tag: job losses

Sustained output growth is just the start of a long recovery for construction

Sustained output growth is just the start of a long recovery for construction

The latest Markit/CIPS survey of construction activity came out yesterday grabbing big headlines and very possibly spectacularly misinforming the general public. The most common interpretation seems to be: “Construction grows at fastest rate for six years.” This is not surprising because it was what the Markit release actually said. I’m not saying this is bonkers, but it would surprise quite a few people if the official construction output figures record the fastest growth in six years in either the third…

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Construction jobs figures provide reasons for hope and signals for action on training

Construction jobs figures provide reasons for hope and signals for action on training

It’s only one quarter’s figures and we should be cautious of statistical quirks, oddities such as last year’s Jubilympics and weather effects, but there is more promise in the latest construction jobs figures than might have been expected. Certainly the generally improved mood will mean that firms are more willing to hold onto quality people than they might have been. And there is a hint of this in the figures which show a small drop in the numbers, but an…

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Signs of recovery and the cost of missed opportunities in the housing market

Signs of recovery and the cost of missed opportunities in the housing market

The latest housing market data all point to a recovery. Mortgage approvals measured over three months are at a three-year high. Prices are rising. Sales are more buoyant. Starts appear to be on the way up. Indeed more positive wider economic news of late no doubt has helped underpin a sense of confidence, while the periodic scares from the Euro area seem to create less fear each time they come into focus and fade again. The improved housing statistics should…

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The figures point to more job losses for construction over the year ahead

The figures point to more job losses for construction over the year ahead

The latest employment figures show construction losing a further 25,000 jobs in the final quarter of last year, following a slight increase in the workforce in the spring and summer. This leaves construction employment down 20,000 on a year ago. Taken from the peak in September 2008, the number employed in construction has fallen by 428,000, roughly 17%. But perhaps of more note is the mix of that workforce. The number of self-employed workers actually increased in the final quarter…

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The construction recession will be deeper – that’s the forecasters latest view

The construction recession will be deeper – that’s the forecasters latest view

The latest industry forecasts for construction activity are, as expected, much gloomier than they were as recently ago as last autumn. Both Experian and the Construction Products Association have trimmed their expectations for growth in construction output for this year and next. Experian is estimating a drop of 8.5% for last year on current data followed by a 3.5% drop this year, while CPA expects a 8.8% for 2012 with a of 2.2% for 2013. The graph (right) shows how these compare…

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North East aches while London sees growth in construction jobs

North East aches while London sees growth in construction jobs

Here is a chart that pretty much speaks for itself. It shows the regional change in the level of construction workforce jobs across the UK from before the recession to the summer of this year. Yesterday I looked at the trends in construction employment (a subtly different measure, but broadly similar) and the likely path of job creation/losses. I thought today I might dig into the ONS data and extract numbers for the regions. So I have taken an average of…

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Why job shedding in the UK construction industry may be about to accelerate

Why job shedding in the UK construction industry may be about to accelerate

UK construction industry employed about 57,000 fewer people in the third quarter of this year than a year earlier. That’s a drop of about 2.6%. The ONS data shows that since the peak in September 2007 the fall in the number employed is closer to 380,000. This represents broadly a 15% drop in the workforce. It’s worth noting that these figures are subject to a lot of statistical noise so a few thousand here or there is pretty meaningless. Furthermore…

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UK construction bosses need to make Government face the facts: The industry is in freefall

UK construction bosses need to make Government face the facts: The industry is in freefall

Construction output fell 2.6% in the third quarter of this year. This fall was slightly more than had been expected when the nation’s first estimate of gross domestic product was released. For informed industry watchers this was no surprise. The fact that revisions by the Office for National Statistics to earlier data pushed the recorded level of output down still further was also not a surprise.

Jobs data point to falling construction employment

Jobs data point to falling construction employment

The latest jobs data from the Office for National Statistics support the widely held view that construction employment is falling. And, given that employment data tends to lag output data, we should then expect to see further, perhaps more significant, falls in the number employed in construction in the relatively near future.