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Thursday, 10 January 2019

Construction job vacancies keep rising

Construction peak

Just an additional point on yesterday's figures.

Counter-intuitively the reported construction job vacancies rose to a 6½-year high in the November 2018 quarter, for reasons that weren't entirely clear to me (resources investment picking up?). 

Of course, the figures are based from a survey sample, and this could simply be a blip. 

Now, full disclosure: I wrote a report last year (published here at LiveWire) that predicted construction employment would fall off sharply.

To date, construction employment has fallen from those dizzying peaks, by 27,000 - which is a bit, but not that much.

So, maybe I'm wrong. 

I think I may just be early, especially as non-residential approvals are now in decline too.  

One to watch in 2019 anyway.