There has been a major slump in the number of people employed in construction.
New figures from the CSO show an 11% drop in February compared to the same month last year.
In January there was a 10% decrease on figures recorded for January 2007.
It has now been 12 months in a row without an increase in employment private construction firms.
Sad news indeed… real people losing there jobs.
From June 2006
finfacts.ie/irishfinancenews … 6275.shtml
This article was posted at the time on the property pin
and since it was still during a very optimistic time when people were regarded widely as being mad if they mentioned the possibility of house prices going anywhere but up we specualted that the 100,000 job losses over ten years would be over a much shorter period.
Anyway my point is the Govt knew this was coming so what plans did they put in place for re training or re education ??
The construction industry absorbed so many resources that all the evidence pointed to a BIG reshaping of the structure of the economy at some stage
What preparations were made?
What about all the noise about a knowledge economy ?
What if anything tangible has been done?
I posted up a thread late last year showing how I reckoned construction employment would fall 100k + by the end of 2009. Todays 11% fall for February yoy translates into circa 31k jobs. And this covers the period of high activity with massive falls to come through for rest of the year. So much for the VI 15, 20 and 30k tops construction job loss predictions, we have gone through those already.
I thought the index base was about 250k jobs so 11% of that is 27, 500.
That would be from the 100 base. But the index last February was something like 113 or 114 or circa 285k jobs so 11% from that is circa 31k.