Construction job growth levels ‘highest since records began’ | 7 July 2014
Job creation in the construction market has reached its highest level since 1997, thanks to economic recovery bringing a huge turnaround in fortunes.
The Markit/CIPS UK Construction PMI began back in 1997, illustrating job creation and output levels across the industry. With sustained economic growth bringing about a construction boom, figures for both jobs and output have increased – the former to record breaking levels.
Today, construction job creation is at its highest level since records began 17 years ago. Output levels, meanwhile, have reached a four month high after posting an index rating of 62.6 in June, compared to 60 in May. This means output levels have been above the 50 level that signifies growth for 14 consecutive months, cips.org notes.
Whereas much of the recent growth has been attributed to growth in the housing market, these most recent increases appear to have come from a much broader base. As such, even though housing remains the primary driver of growth, increases in commercial activity have supplemented it.
Commenting, group executive at the Chartered Institute of Purchasing & Supply David Noble told constructionenquirer.com: “The construction boom ramped up to a four month high in June, fuelling the strongest rise in job creation in the survey’s history.
“New orders accelerated sharply this month, with much of the increase driven by the expanding housing market and supported by improved commercial activity. Despite civil engineering taking some heat out of activity, UK construction is well positioned to deliver sustained growth in the coming months.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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