Highest growth since 2011 in employment in construction industry

Employment construction
By Joana CIDADES . 3 years
Categories :
Investing Portugal

Highest growth since 2011 in employment in construction industry

 

The employability of the construction sector in Portugal continues to grow. This is the highest increase since 2011, the number of construction workers increased by 5.6% to 303,7 thousand in the first quarter of 2017. This is the best initial quarter of the last few years in employment in construction industry, according to the Portuguese Federation of Construction and Public Works Industry (FEPICOP).

 

The increase of construction workers in this period, over 16,000, represents 11% of the increase in total employment in the economy, which also evolved positively up until March with an increase of 3.2 percentage points. There were also slight decreases in unemployment, dropping 18.2% over the same period, and the unemployment rate reached the lowest level since the beginning of 2011, with 10.1%.

 

According to FEPICOP, the dynamism of the real estate market is primarily responsible for the recovery of the construction sector, although public works market has also had a share of responsibility in this result. By the end of April, there were notable increases in the value of public works contracts promoted, corresponding to a 69% increase year-on-year.

 

Also the amounts of contracts already signed increased, with 77% more than the first four months of last year, when minimum values of public investment were reached. However, this recovery gives clear signs that public investment may follow the positive trend of private investment, already in 2017, says FEPICOP.