200,000 new jobs predicted
Construction comeback set to create over 200,000 jobs
As we launch our new steel production facility to meet growth in demand we see news this week from the Construction Industry Training Board (CITB) that it is seeing a strong construction comeback, which is set to create more than 200,000 construction jobs and expand the sector by up to 2.9% year-on-year.
According to the CITB’s latest industry forecast, the Construction Skills Network (CSN) report, predicts an increase of over 8,000 jobs per year on last year’s forecast with the annual demand for workers increasing to 44,690.
For the first time since the downturn, investment boosts in housing, leisure and infrastructure will deliver growth in every region, casting aside perceptions of a recovery driven only by the South East.
The annual forecast also shows that:
The UK’s private housing sector is set to continue growing at a rate of 4.6% over the forecast period to 2019, with the commercial sector set to grow at the same rate
A resurgence of growth and employment in the north of England has the potential to create an economic power base in the region, with the North West set to grow by 2.5%, the North East by 2.3%, and Yorkshire and Humber by 2.3% annually, over the forecast period
The biggest regional growth will be seen in Wales, which is predicted to grow by almost 6% year-on-year and create as many as 5,320 jobs in the next five years
Scotland is expected to see a drop in growth from 2% to 1.1% over the next five years, as a result of completed infrastructure projects associated with the re-development of the M8 and the Commonwealth Games, but infrastructure investment remains at historic levels.
To read more about the research report click here
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