Building industry to suffer 50,000 job losses: MBA

The association’s chief executive officer, Wilhelm Harnisch, said employment data released by the ABS this week lent weight to MBA’s prediction of 50,000 job losses in the building and construction industry over the next 12 months. “Master Builders’ economic survey shows that more than 50 per cent of builders surveyed by Master Builders Australia expect staffing/sub-contract numbers to fall by more than 10 per cent as a result of the global financial crisis,” Harnisch said.“In that regard, Master Builders welcomes recent initiatives by the Reserve Bank and the federal government designed to insulate the economy from the worst effects of the global financial crisis,” he said. Harnisch also said the government must ensure that bureaucratic road blocks are removed and that project approvals are fast-tracked. The total number of people employed in the construction industry in the February quarter 2009, seasonally adjusted, fell by 0.6% to 979,700, down 0.5% on the February quarter 2008.As a percentage of the total Australian workforce, the number of people employed in construction in the February quarter represented 9.1%, down from 9.2% in the corresponding quarter a year ago.

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