Employment in the construction industry fell 15.2% during the 12 months leading to June, according to the latest figures from the Central Statistics Office (CSO).

The construction jobs index dropped from 109.8 in June 2007 to 93.1 a year later.

Records have plummeted to an eight-year low and illustrate a substantial contraction in the volume of contracts available to firms, across all spectrums of the industry.

-- Advertisement --

The CSO also confirmed that the final figure for May showed a fall of 14.5% when compared to the same month in 2007.

Research Executive Dr Peter Stafford said the international credit crunch has affected demand for new housing and commercial and industrial properties.

One firm that has clearly felt the impact of the downturn is Readymix.

Last week, the company announced losses of €9.6m for the first half of this year.

In an interim statement, the company said it expected the downturn in the sector to continue well into next year.

(PR/JM)