Underemployment in construction is relatively high at the moment and the construction sector shows further signs of the impact of the nation’s economic slowdown. Data released by the Australian Bureau of Statistics (ABS) found underemployment in the construction sector has impacted tens of thousands of workers all around Australia.
Underemployment is the measure of how many of those working in a sector would like to have more jobs and it’s become a very serious problem for Australia’s economy.
Pulis Constructions Director Michael Pulis is staying positive. “Construction is highly important to the Australian economy, accounting for almost 1 in 10 jobs. I am confident that this economic problem will not impact us highly.”
As Michael Pulis says “The market may slow down over the next few months but there is enough work still in the pipeline to continue for many years. Things will pick up, they always do.”
Mr Pulis said he is not worried about the recession too much, what matters more is the capacity and ability of the banks to lend money to eager property investors and to get borrowers ‘over the line’. That means changing lending criteria and loosening conditions we currently have with the major banks.
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