Friday, May 16, 2008
500,000 UK construction jobs could go ....
Times: Kier warns start of public sector slowdown
Kier, one of Britain's biggest construction and house building companies, today gave warning of a slowdown in public sector spending across the country. When asked by Times Online whether it was possible that up to half a million jobs could go across the entire housebuilding and construction sector - in a repeat of the early 1990s job losses, Chief Executive, John Dodds said: "Yes. We are looking at that [scenario]."
Posted by uncle chris @ 09:44 PM (442 views) Add Comment
3 Comments
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1. plato said...
Here are a couple of quotes from articles today :
House building work at 12-year low
Building work on new houses fell to its lowest level in 12 years as firms shelved projects in an ailing market, new figures show.
Builders began work on 32,100 dwellings in the first three months of the year - 24% below the same period in 2007 and the worst since 1996, according to the Department for Communities and Local Government (DCLG).
Councils warning on social housing
As many as five million people are expected be on social housing waiting lists in the two years, town hall leaders have warned.
The credit crunch and the slowing economy could see two million families stuck in the queue for help, they claim.
Almost half of councils say they cannot cope already with increasing demand for housing association accommodation as the number of households waiting for it has grown from one million in 2001 to 1.6 million in 2007.
Already covered in previous posts and the overall picture is becoming very bleak indeed. To have allowed such deterioration to materialise in the UK economy is very bad indeed and recession must be now be looming if one is being realistic.
Tighter budgets in the Public Sector will only make matters worse.
2. icarus said...
Strong underlying demand for a limited supply of housing then. Sound fundamentals underpinning house prices. Not
3. Stupid_boy_pike said...
The house builders could still make sensible profits from much reduced house prices.
If they are waiting for high prices to return, that will take something like 10-12 years.
So does this mean that house building will be limited for many years to come.