| In 2006 it was estimated that 7% of the UK's | | | | generally. Not only are the larger companies, such as |
| workforce were present in the construction industry. | | | | Barrett Developments being hit, so are mid-level |
| 2.2 million Construction Jobs were provided by the | | | | companies and smaller companies. In fact the |
| sector in the same year and this figure was believed | | | | mid-range and small organizations are in much more |
| to be increasing to 2.8 million by the year 2011. | | | | risk of folding entirely. |
| What's more the construction industry was a major | | | | Also like the swinging ball executive toy the cuts in |
| employer of graduates, with a third of new positions | | | | house building are affecting all the other jobs within |
| being offered to university leavers. Unfortunately | | | | the construction industry. Managerial staff, and |
| these figures were estimated during a time of | | | | desk-based staff are being affected along with |
| financial stability and a rising market. Now with the | | | | builders and other ground-level workers. |
| credit crunch the construction industry is being | | | | Similar trends are being seen in the USA and |
| threatened just as much, if not more, than other | | | | practically all countries around the world. One of the |
| market sectors. | | | | worst hit is Ireland and the situation there could be |
| Construction jobs cover a vast area of the job | | | | seen as a precursor of what is going to happen in |
| market including such diverse building services as: | | | | the UK. It is now being commonly agreed that a |
| infrastructure repair and maintenance; public and | | | | recession is approaching, although the severity of this |
| private house building; and the building of factories, | | | | recession is being hotly debated. Within the |
| hospitals and schools. All of these areas are | | | | construction sector the length of this recession is |
| threatened. Perhaps the worse hit is the residential | | | | being estimated at one to three years depending on |
| house building market as falling house prices are | | | | which expert you ask. |
| meaning that people are pulling out of property | | | | So as you can see the job losses in the house |
| buying altogether. | | | | building market have had far reaching effects on the |
| At the beginning of July 2008 The Times Online told | | | | construction industry as a whole. Not only are there |
| how Barrett Developments, one of the UK's lead | | | | construction job cuts left, right and centre at a |
| construction companies, made around 1000 redundant | | | | ground roots level but these are affecting jobs at all |
| in just one day. Over two days the redundancy | | | | levels within the sector. Added to this companies are |
| figure hit a staggering 2500 people. As well as all of | | | | moving, or selling regional offices completely, meaning |
| these job cuts the company's shares have also | | | | still more job cuts. What's more the rocky period is |
| dropped by 97% since a peak in February 2007. | | | | believe to have just begun and to be lasting for at |
| Regional offices are being merged or closed entirely. | | | | least another year meaning that we have a long way |
| Similar trends are being echoed throughout the | | | | to go yet. |
| market sector. | | | | At a time like this a construction recruitment specialist |
| All of these factors add up to an unprecedented | | | | can really help you find the best, most secure |
| drop in the sector as mortgages become more | | | | openings and advise you on how best to pursue your |
| difficult to secure and as the economy weakens | | | | career move within the current economic climate. |