Hundreds of thousands of jobs to go in Czech construction industry

2010-03-09

The decline in the construction industry in the Czech Republic led to the loss of approximately 30,000 jobs on this market last year, according to the Association of Construction Entrepreneurs in the Czech Republic, quoted by Stavitel. The same number of jobs is expected to be lost this year.
The association says that the 2.5% year-on-year fall in Czech building production last year will be followed by an annual reduction of up to 8% in 2010. Between 90,000 and 120,000 jobs are at risk in the Czech construction industry this year. At the end of 2008, approximately 450,000 people were working in the industry.
The number of new orders in the industry fell in the first three quarters of last year by almost two-fifths, according to estimates by the association.