FTI Consulting has forecast that a sharp decline in new construction projects will see the number of jobs in the sector fall by 12% by the end of 2021.
Kerry Barwise of FTI Consulting said just 11 major construction projects valued over $20 million were announced in June, compared with more than 700 in the six months to April.
FTI expects Victoria’s construction sector to be hardest hit by the downturn, with the number of jobs forecast to fall from 337,000 in 2019 to just 275,000 in 2021, representing a decline of 18%. Construction jobs in NSW will also fall to 327,000 from 362,000 over the same period:
