Construction in the residential building sector tends to be more labour intensive than that in other areas of the construction sector. However, according to some industry players, the current decline in residential construction activity is not expected to result in any significant rise in unemployment within the construction sector overall, due to the ongoing skills shortage within the industry. From The AFR:
A basic analysis of ABS figures by Rider Levett Bucknall for The Australian Financial Review shows that every $1 million spent on building construction employs 2.24 workers, while the same amount spent on heavy and civil engineering construction employs just 1.06 workers…
