In a further sign that job growth may be peaking, employment growth in the construction sector slowed considerably in December, the Central Statistics Office (CSO) revealed yesterday.
The index of employment in construction shows the number of jobs in the sector growing by 2.9 per cent as of December. The rate has cooled markedly from the start of last year, when it was running at over 4 per cent, bringing the average yearly rate down to 3.7 per cent.
Figures released yesterday showed employment growth slowing towards the end of last year. The CSO's quarterly national household survey showed construction employment growth slowing towards the end of the year.
The survey shows employment in the sector growing annually by 11 per cent per annum last November, considerably lower than earlier that year.
The survey measure differs from the index by including firms with fewer than five workers, as well as employment in public sector construction activity - two strong sources of recent growth. But both recent index and survey results confirm the pattern of slowing employment growth.
According to the quarterly national household survey the sector employs over one quarter of a million persons.
Employment in the sector has increased since late 2003 by 50,000, or 25 per cent, according to the CSO.
Almost 26,000 of these jobs were created in the 12 months to last November, equal to 30 per cent of total job creation during the year.
Across the EU as a whole one in every 14 workers is employed in construction. In Ireland the proportion has now risen to one in 12, due mainly to strong housing construction.
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