Rate of construction industry job losses increases

The construction industry is shedding jobs at its fastest pace since May 2011, having seen staffing levels fall every month since May 2007.

The Ulster Bank Construction Purchasing Managers’ Index indicates that construction activity fell sharply again in November as new orders declined at an accelerated pace. The index remained unchanged at 42.6 in November, signalling a further sharp monthly reduction in activity at Irish construction firms.

Respondents attributed the latest fall in activity to lower new orders and weak confidence.