Shortage of skilled workers in UK construction segment is the biggest problem. Lack of skilled workers is a key factor limiting building activity in 2017.
Britain’s shortage of surveyors, bricklayers and other construction laborers is holding back building work exactly at the time when the country needs more houses and infrastructure.
Almost two-thirds of surveyors said a lack of skilled workers is a key factor limiting building activity, according to the Royal Institute of Chartered Surveyors
The lack of skills has now surpassed planning and regulation as the second biggest problem facing the industry, with 62pc reporting recruitment problems in the third quarter of the year.This is the highest proportion in 2 years and one of the highest scores on record.
Ability Shortage Survey 2017
On average over the survey’s five year history only 40 PC have reported lack of skilled workers is holding back business, so the rise to 62 PC is a huge increase. The only bigger impediment is a lack of access to finance which was reported as a trouble by 69 PC of surveyors, a sharp tumble from 79 PC in the second quarter of 2017.
The construction sector is growing – the proportion of surveyors revealing higher demand on the quarter outweighed those reporting a fall by a margin of 22 PC. The industry also expects profit margins, workloads and employment to rise throughout the following year though at a slower pace than in the years from 2013 to 2015. While action in the part has directed, growth and growth expectations remain in positive territory. Said by RICS’s senior economist Jeffrey Matsu.
Skilled Labour at UK Construction Segment
Uncertainties due to Brexit continue to weigh on companies’ investment and hiring decisions, and banks appear to be adopting a more cautious stance to providing finance. Meanwhile, challenges related to an inadequate supply of skilled labour are as articulated as ever.
The struggle to find laborers comes at a time of record low unemployment. The jobless rate is 4.3pc, according to the Office for National Statistics, the lowest since 1975. Over the year from June 2016 to June 2017 employment in the construction sector rose by 45,000 people to 2.9m. Normal income in the industry increased by 2.1 PC over the year to September, close to the average of 2.2 PC across the whole UK economy.
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