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Tag: unemployment

No sign in the data that construction employment is plunging again – not yet anyway

No sign in the data that construction employment is plunging again – not yet anyway

There is no getting away from the fact that the latest UK jobs figures are depressing. There’ll be plenty of discussion about that in the general news. And it bodes ill for the economy overall and in turn for construction. But for those looking for gloom in the construction jobs figures, the data does not seem to support the view that employment levels are once again plunging. The quarterly workforce jobs figures were not updated this month. But the alternative Labour…

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No joy in the latest construction jobs figures

No joy in the latest construction jobs figures

The latest official labour market figures show a drop of 66,000 in the number of construction workforce jobs over the year to June. On the face of it, though, there appears to be a bit of promise with the number of jobs holding up well in the second quarter compared with the first quarter figure of 2,095,000. Admittedly this was revised down by 20,000 from the number in the previous release. This number of jobs, by the way, is comparable with…

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Jobs and pay data do little to perk up waning hopes for growth

Jobs and pay data do little to perk up waning hopes for growth

The latest jobs and pay data released by the Office for National Statistics today provide little by way of comfort about the economy or, more specifically, for those in the construction industry. There was an improvement in the numbers employed with 50,000 more in employment over the past three months to May and 26,000 fewer were counted as unemployed. But we have seen a continued rise in the claimant count. And annual pay rose at an annual rate of just 2.3%,…

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Construction jobs slump to lowest level since 2003

Construction jobs slump to lowest level since 2003

Construction lost a further 24,000 jobs in the first quarter of this year with the number of workforce jobs dropping to its lowest level since mid 2003. The labour market statistics provide further evidence of the slump in construction activity. Although it is worth bearing in mind that the more jobs rich repair and maintenance sectors have taken more of a beating than the new work sectors of construction. This would mean proportionately more jobs lost for a given drop in overall…

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Latest jobs figures look pretty upbeat – but…

Latest jobs figures look pretty upbeat – but…

A first reading of the latest set of jobs figures provides some encouragement both for the nation at large and for those engaged in construction. Nationally unemployment was down and employment was up, with the rate of those aged 16 or older rising to 70.7% from 70.5% in the three months to March. Encouragingly the improvement came from more full-time employed jobs, rather than from self-employment or part-time work.

How worrying is the latest jump in inflation?

How worrying is the latest jump in inflation?

The latest jump in CPI inflation is worrying – at least to me. Yes Mervyn King, the Governor of the Bank of England, had sought to soften views by warning with the release of the latest Inflation Report that there may be spikes ahead. And economist had been expecting a rise this month – although not this big. But looking at the hard figures, the jump of more than 1.1% in a month – a fairly rare event – seems…

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Housing market: more stable but still fragile

Housing market: more stable but still fragile

House prices are showing signs of greater stability after the falls in the second half of last year. Today Hometrack released figures showing prices in March were just 0.1% down while Nationwide released a figure of plus 0.5%. But the big question on everyone’s mind is where to from here for the market as homebuyers and sellers adjust to the squeeze within the economy. And among construction folk what does this all mean for house building.

Public sector job cuts and the housing market

Public sector job cuts and the housing market

There has been some rather unsettling data released over recent days for those who fear falling house prices. The latest Bank of England data showed seasonally adjusted mortgage lending falling by 10% in December to a level not seen since May 2009 when the housing market slumped. Nationwide’s house price index showed a further slight fall of 0.1% in January, which when other indicies are considered suggest prices are on a downward path. Meanwhile there are worrying signs of falling…

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Construction firms axe jobs ahead of double-dip downturn

Construction firms axe jobs ahead of double-dip downturn

The number of jobs in the construction industry fell by 17,000 in the third quarter of this year despite the continued swell in work resulting from the now fading effects of the economic stimulus. Indeed the rather lacklustre set of labour market figures released today may well be read by some as an early sign of momentum fading in the economy at large. Certainly the drop in construction job numbers will lead many to suspect that firms are already trimming…

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What house price falls might mean for future housing construction

What house price falls might mean for future housing construction

The Halifax index out today will provide a nasty kick in the stomach for those businesses reliant on stable or rising house prices to prosper. The monthly fall of 3.6% was the biggest I could find on the historic data spreadsheet that Lloyds Banking Group provides that goes back to the start of 1983. The previous worst monthly fall was 3.0% in September 1992. And however much we are advised to look at the quarterly figure and how ever much…

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