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17/01/2008
Construction Pessimism Reaches High
A survey by the FÁS/ESRI has found the level of pessimism in the construction industry has reached depressingly high levels.
The survey by the Economic and Social Research Institute found the number of employers in the sector expecting employment levels to fall over the coming months is 42% higher than those predicting an increase.
The Ulster Bank Construction Purchasing Managers Index recently found activity in the construction sector had plunged to its lowest level on record, while the Central Statistics Office said the number of people employed in the construction sector fell 5.4% on a year-on-year basis in November.
Dr Elish Kelly of the ESRI said: “Overall the vacancy figures are holding up but going forward we are finding employers are expecting to hire less people and are becoming more pessimistic when it comes to hiring prospects but this seems to be consistent with overall forecasts for economic growth.
“With regards to the construction sector, the results from December’s survey indicate employers in this sector are the most pessimistic they have been since 2002 about future employment levels in the sector.”
(DW)
The survey by the Economic and Social Research Institute found the number of employers in the sector expecting employment levels to fall over the coming months is 42% higher than those predicting an increase.
The Ulster Bank Construction Purchasing Managers Index recently found activity in the construction sector had plunged to its lowest level on record, while the Central Statistics Office said the number of people employed in the construction sector fell 5.4% on a year-on-year basis in November.
Dr Elish Kelly of the ESRI said: “Overall the vacancy figures are holding up but going forward we are finding employers are expecting to hire less people and are becoming more pessimistic when it comes to hiring prospects but this seems to be consistent with overall forecasts for economic growth.
“With regards to the construction sector, the results from December’s survey indicate employers in this sector are the most pessimistic they have been since 2002 about future employment levels in the sector.”
(DW)
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