100,000 construction jobs could go

14/07/2008

The House Builders Association has claimed 100,000 construction jobs could go if housing downturn continues.

A further 150,000 workers could see their livelihoods threatened as the current slump will affect "thousands of self-employed tradesmen and sub-contractors," it warned.

"The housebuilding industry has a huge multiplier effect on employment and the wider economy," explained Roger Humber, strategic policy advisor.

Leading building contractors Persimmon, Barratt and Wimpey have already shed jobs and widespread redundancies would create a future skills shortage.

Joey Gardiner, housing and regeneration editor of Building, noted as jobs go "many of those laid off will be forced to move to other industries".

"This only increases the chance of a skills shortage when the market finally improves, making it even harder to hit government housebuilding targets," he predicted.

Leading banks have tightened their lending conditions to private borrowers and more recently to industry, causing markets to contract.

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