Construction Industry Is Feeling The Cut Backs!
The construction industry is one of the biggest industries in the UK, and it is the second fastest growing sector in the UK. It is reported that the construction industry contributes more than £110 billion per year according to https://www.designingbuildings.co.uk/wiki/UK_construction_industry
But this doesn’t change the fact that January saw a 10% fall in wages for the construction industry. There can be many reasons, as the last few years have severely impacted all industries. With other sectors still struggling to move past the effects of COVID-19, means there is less money for people to build, extend or even move. Unfortunately, people still find it hard to borrow money due to their jobs not having the security they once did, or because they are no longer working the hours they did before. Mortgage lenders have tightened their belts even more than before, which has seen the decline in some areas of building.
The wages drop isn’t a blanket cover for the whole industry, but it shows how volatile we are as a community and country as a whole. This is hopefully a temporary situation, one which should see a rise as the year goes on.
What we have to remember is that these last years have given us many hurdles to overcome. The supply chain being one of the hardest. Without the supply, the building itself had to be postponed, and in some cases stopped. Meaning that some workers either had to have time off or find other work completely. It’s far from ideal, but we are making progress!
We have also seen the energy prices rise more than ever expected, which is a great advocate for green energy and building to a higher standard, but this only works if the clients can afford the initial costs. Energy efficient homes are fantastic, they will ensure that energy bills are the lowest they could possibly be, sometimes they can even give back to the grid. But, as with anything, the initial start-up will be more costly, which is worth it in the long-run. Unfortunately, we are living in a time where the money isn’t always there to dip into to begin the process.
The vacancies in the construction industry still remain high, but this doesn’t have to be negative. We’re coming up to summer, which is where our industry really does come alive. These are all impacts from the last few years. We can’t go through something like that and expect to come out unscathed. Compared to other industries, we have done well. We still have a way to go, but we will get there.
The deadline of 2050 Net Zero Carbon Emissions is looming. As an industry, we are prepared, but we need to get all our ducks in a row first. Our industry, like many others, realises on working together. If we can do that, nothing can stop us!