Construction & Engineering Market Update Q3 2016
The most in-demand roles in the third quarter of 2016 have been Mechanical and Electrical/ Building Services personnel, along with Quantity Surveyors, Contract Managers and Cost Managers.
Construction & Engineering Overview
The third quarter of 2016 continued in the vein of the preceding months with the construction industry retaining high levels of hiring. The end of the third quarter of 2016 saw a further monthly expansion in Irish construction activity, helped by quickening growth of new business. Increasing amounts of work led to increases in employment and outlook on the prospects for continued future growth remains very positive.
The Ulster Bank Construction Purchasing Managers’ Index® (PMI®) – a seasonally adjusted index designed to track changes in total construction activity – gave a reading of 58.7 in September from 58.4 in August to illustrate another definite monthly increase in activity. All three sub-sectors increased in activity, with commercial and housing areas growing sharply. Pleasingly, by the end of quarter three, civil engineering returned to growth also. The September index also recorded a faster increase in new orders. New orders continuing for 39 consecutive months – a crucial component in growth activity. Construction activity has risen continuously since September 2013 and this shows no sign of abating.
As with the initial two quarters of 2016, the return of the Irish diaspora continues. However, there is still a significant shortage of qualified candidates with 3 – 10 years’ experience and this is across the board within the industry. Attracting candidates back home remains a key priority for us and this will continue well into the future. Ensuring candidates have realistic expectations of salaries and packages currently on offer in Ireland is also key. Salaries have remained steady in the third quarter of 2016.
The most in demand roles in the third quarter of 2016 have been Mechanical and Electrical / Building Services personnel, along with Quantity Surveyors, Contract Managers and Cost Managers. As well as this, management personnel in the form of Project, Site and Construction Managers remain in high demand.
Apprenticeships are once again being offered, owing to the fact that since 2009, apprenticeships within the construction industry virtually ceased. The renewal of structured apprenticeships aims to assuage any threat of a real shortage of qualified tradesmen and women within the Industry in the years to come.
What can we expect for the remainder of the year?
The outlook for Q4 continues to be very promising. Activity within the construction sector shows no sign of slowing down and neither does hiring activity. Sub-contractors will continue to hire at a solid pace in Q4 as there is a greater upsurge in their use. Confidence among the construction sector remains high, with companies seeing positivity in relation to the Irish construction industry and the wider Irish economy.
Our construction and engineering team are consistently ready and prepared to assist with hiring requirements for small and large projects. Please contact Sarah Doyle if you need assistance with your recruitment at firstname.lastname@example.org or call 01 661 0444.