Construction Boom

 

A retrospective on the 2016 Construction Boom

The UK construction sector added 70,000 new jobs to the job count in 2016 according to the latest consolidated sector data presented by The Office for National Statistics. 

There was a visible recruitment drive amongst the larger construction companies, underpinned by a rising demand for new houses, combined with government plans for improving the nations infrastructure.  

In particular housebuilding has been regaining ground following the preceding few years of flat line growth that saw migrant labour move back to the continent, as main contractors went abroad in pursuit of new contracts. This attrition in the numbers of migrant workers has been so poignant that developers have been forecasting a narrowing in the available supply of workers in the near future, leaving contractors with skills shortages.

With the creation of new government infrastructure projects arises the competition for key state funded rail and highway projects, with Civil Engineers in particular hiring in qualified staff in increasing numbers. 

Construction has experienced a marked slowdown in pay growth from 9% in 2016 when the skills shortage was at its most acute to 0% in the latest data.

#ONS #Construction #Property #StevenThomas