Forecast: Construction Employment in the UK

The construction employment sector in the UK has experienced fluctuations over the past decade. From 2013 to 2019, the sector generally saw positive growth, peaking at 2.36 million units in 2019. However, the onset of the COVID-19 pandemic led to significant declines, with employment dropping to 2.01 million units by 2022. In 2023, the value stood at 1.94 million units.

Year-on-year variations reflect this trend, with notable declines in 2020 (-6.4%), 2021 (-5.01%), and 2022 (-4.22%). The CAGR over the last five years averaged at -3.79%. Moving forward, forecasts suggest a continued decline, but at a slower rate, with a forecasted 5-year CAGR of -1.46% and an anticipated level of 1.75 million units by 2028.

Future trends to watch for include potential impacts of new infrastructure projects, government policies aimed at reviving the construction sector, technological advancements, and the ongoing effects of economic recovery post-pandemic. Adaptation to green building practices and sustainability measures could also influence employment trends in the construction industry.