The Irish Central Statistics Office (CSO) has reported the largest decline in employment in the building trade, for 14 years.

And job losses are expected to increase, by thousands.

The CSO's employment index has reported an 11.7% fall in employment, by private building firms, during March 2008 compared to the same period last year.

These figures reinforce, anecdotal evidence, according to the training and employment agency FAS, that the first quarter of 2008 was a "particularly bad one" for those employed in the domestic building trade.

These latest figures have presented the most substantial reduction in employment, in the industry, since the inception of the index, back in 1994.

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Statistical analysis has predicted that thousands more jobs could disappear within the construction industry by the end of next year, with there being a total loss of 50,000 workers between 2007 and the end of 2009. In 2007 over 286,000 were employed in the industry.

FAS has noted a rise in the number of men signing on the Live Register unemployment scheme in recent months, which it said was attributable to the projected 95% of men who gain employment status through the construction industry.

Public sector contracts and repair and maintenance work has provided some increased activity, according to FSA economist Brian McCormick.

Mr McCormick stressed that it’s not totally bleak news, but the current environment may require workers to be more flexible and re-train.

A statement from the Construction Industry Federation has claimed housing building is at a 10-year low. Its figures report a 33,000-drop in completions in 2008, which is projected to fall by another 5,000 in 2009.

But the Federation has suggested, that providing a degree of confidence returns to the market, an underlying demand could see up to 60,000 new homes per year.

(PR)