Construction jobs 'hit hardest'

29/10/2008

UK construction jobs have been among those hardest hit by the credit crunch, Building has reported.

On Monday, it was announced up to 8,000 jobs could go in Northern Ireland because of the tightening economic climate and major construction firms are looking at cutting jobs further.

It has been reported Wolseley, Michelmersh and MJ Gleeson have all struggled and could make further redundancies.

A report into the sector by PricewaterhouseCoopers (PwC) for the Construction Employers Federation (CEF) revealed local house builders have already cut 3,000 jobs and 1,500 more could follow.

"We believe that the magnitude of the slowdown and job losses in house building and forecast reduction in infrastructure employment will impact on the construction supply-chain, including the mineral extraction industries," CEF managing director, John Armstrong, told the Belfast Telegraph.

The European Commission has said it wants to put more money into a 'crisis fund', to help trouble European states should they need it.

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