Data suggests that there is a huge decline in the amount of contract notices, which is almost a quarter less compared to 2019. About 1,330 contract notices were advertised between January and 10 August last year, but the number has been reduced to 994 this year, which is almost 25% decline.
Major contractors like Laing O’Rourke, Mace and Wates have already announced hundreds their staff reduction measures in recent weeks. Analysis for the current quarter to the end of September may actually show a growth in construction jobs.
Real Business Rescue has warned this morning that up to 120,000 jobs could be at risk at SMEs as their data has shown that the number of SME’s in distress had climbed to 63,000 in the second quarter of 2020, which is almost 4% more compared to the first quarter of 2020.
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