It’s no secret the construction industry in Sydney and throughout Australia has experienced a significant decline in projects over the last few years. However, recent projections indicate a significant amount of growth in both 2018 and 2019. These projections are welcoming news for skilled labour hire, as many more jobs in Australia will be opening up in the very near future. Whether it’s commercial building work or non-mining infrastructure work, the forecast appears to be favourable for at least the next couple of years.
Projections For The Near Future
Major project work is expected to increase by 7.1% in 2018 and then another 6.8% in 2019. The majority of the major projects will be non-mining infrastructure work, private sector commercial building investments and public sector transportation infrastructure projects. With these projections, experts are confidently expressing the worst decline Australia has seen in years is in the past and projects will now be moving forward again. Exactly how construction workers will be impacted remains to be seen, but there are some solid implications that can be made.
Impact on Construction Jobs
More projects taking place means there will be a higher demand for skilled labour hire. However, with the recent decline of construction jobs in Australia available, the amount of skilled labour has also seen a decline. Training programs will have to be provided in order to have skilled and experienced professionals working on any given project. Construction recruitment agencies will be actively seeking experienced construction professionals at all levels to fill what should be an abundance of available jobs.
Labour Costs Could Increase
There are only so many skilled labour hire construction workers in Australia. The increase in construction projects means all of the major projects will be competing in the same talent pool for workers. This bodes very well for experienced construction workers, as they may be able to negotiate higher rates for their experience.
One thing for certain is the uncertainty surrounding the construction industry in Australia. However, with the recent projections showing an increase in construction projects, the forecast looks very favourable for construction workers not only in Sydney, but in many other major cities as well. To learn more about the projected growth in construction projects through 2019 and how it impacts you, feel free to contact us at any time.