February insights indicate construction companies remain upbeat about their growth prospects for the next 12 months, continuing the positive start to 2017. This month the stories making headlines were predominantly, skills and employment related. Research from Arcadis highlighted a possible skills gulf, while the CITB have predicted the number of people employed in construction to rise this year.
Here we look at the top stories making news this month:
“Skills gulf” could see construction wages double
Research from Arcadis has shown the construction industry needs to recruit over 400,000 people every year between now and 2021 to cope with expected workloads. In light of this, the consultant group have predicted a “minted” workforce with the skills most in need seeing their earnings double. Construction Enquirer reported that carpenters and joiners are the highest in demand.
Construction employment levels set to top 2.6 million
Good news on the horizon for construction employment this month. The CITB predicts that the number of people employed in construction is set to top 2.6m this year as the industry continues on its upward trajectory. However, the forecasted figures are dependent on three huge projects- Hinkley Point C and Wylfa Newydd nuclear power stations and High Speed 2 train line.
Infrastructure work drives February growth
Infrastructure was the key driving force behind construction growth in February according to reports published by The Construction Index. Moreover, the latest monthly survey of construction purchasing managers indicated that civil engineering infrastructure replaced house building as the main growth driver. Going forward, a strong demand for house building was named as a key factor likely to boost construction output.
Quarter of construction workers in London are from the EU
Construction Enquirer has reported one quarter of all construction workers in London are from the EU. The figures, announced this month, come as no surprise especially in light of the UK skills shortage. London Mayor Sadiq Khan commented, “When I speak to businesses – both large and small – one of the biggest issues they raise with me is the skills gap.” With London also in the midst of a housing crisis, government will need to devise a strategic plan to overcome the short fall ahead of a potential BREXIT mass exodus.