A recent study suggests that the UK construction industry will experience a 'severe contraction’ before a slow return to growth occurs over the next few years.
The Construction Skills Network report shows that it may be 2011 before the industry begins growing again.
Construction industry output was reduced by 13% in 2009 and over the course of the recession it is likely that around 350,000 construction industry jobs will have been lost. Only a third of those jobs will be regained in the next 4 years.
Mark Farrar, CEO of the Construction Skills Network, said of the industry outlook: "This situation remains fragile and we are concerned that, given the scale of the public sector deficit, potential funding cuts in the period ahead will further exacerbate the loss of skills before private sector investment has fully recovered."
