The labour market still looks good, says FÁS

THE State employment agency, FÁS, has delivered a positive outlook for the labour market, despite fears of rising levels of unemployment after the announcement of more than 500 job losses already this week.

However, the FÁS quarterly labour market commentary also warns about the over-reliance of the economy on the construction industry, with almost as many people now working in the sector as in manufacturing.

The author of the report, FÁS economist Brian McCormick, said the fact that construction also accounted for almost a third of all new jobs created in 2006 was “a cause of some concern”.