BUSINESS

Almost two-thirds of construction jobs have dried up

TAGS: Economy

The number of companies active in the construction sector has declined by 35.4 percent since 2004 as a result of the financial crisis and the considerable drop in investment in infrastructure.

Worse, compared to the 401,000 employees in the sector during the third quarter of 2008 – just before the recession cycle started – construction employed just 141,800 workers at end-2016, which means that at least 64.6 percent of the construction workers eight-and-a-half years ago have now been forced out of the sector.

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