Industry set to grow by further 15% – Linesight
Linesight’s annual Ireland Handbook for 2017 has stated that construction could create up to 80,000 new jobs if it were to grow to full capacity. The Handbook also shows that the building industry grew by 18% in 2016 and is set to grow by a further 15% this year.
According to the firm, commercial building in Dublin played a big role in last year’s growth while recent developments in areas such as pharmaceuticals mean that industrial construction is also growing. This expansion means there is a shortage of workers; the industry’s workforce has grown to 140,000 from fewer than 100,000 a few years ago and there is a growing demand for craftspeople and professionals.
Hospitality and retail activities are also increasing while the IDA continues to attract prestigious multinationals to invest in Ireland particularly in data centres and life sciences. However, there are external influences which could impact the recovery of the industry according to the Handbook.
Brexit and the US presidential election dominated international media over the last year and is expected to continue for the foreseeable future. Fundamentally, both have created uncertainty, which is likely to negatively impact GDP for a number of economies, warns Linesight.
Speaking this week, Managing Director of Linesight Ireland, Richard Joyce said, “We have seen a heartening increase in the levels of employment in the last three years, coming from a very low base in 2012 / 2013, along with sectoral expansion and continued investments in the industry. However skills shortages, in both specialist and traditional trades, continue to impact tender levels and construction inflation.”
