Formal employment in construction fell in June for the tenth consecutive month. Thus, during that period 95,891 jobs were lost of work in the sector.
According to a report by the Institute of Statistics and Registration of the Construction Industry (IERIC), in the sixth month of the year there were 348,777 registered workers in construction.
In monthly terms, a 0.4% drop was observed.slightly higher than the 0.2% that the previous data had shown. Even so, IERIC stressed that “the dynamic in June remained within the path of deceleration of the rate of decline, showing signs of a certain stabilization after a period of significant decline in sectoral employment.”
In year-on-year terms, the decline was 21.2%.very similar to those that had been verified in April and May. It meant the second worst June since the beginning of the series, in 2007, only surpassed by the pandemic data of 2020.
Construction employment is at an all-time low
“The number of jobs registered in June It is among the lowest records in the historical series barely surpassing the same months of 2020 and 2021, this is in the midst of the impact of the crisis unleashed by the Covid-19 pandemic,” the report said.
Another fact that the IERIC highlighted was the lower occupancy level in the second quarter compared to the firstsince this dynamic is not consistent with the seasonality of the sector’s activity.
The dynamics of employment closely follows the evolution of demand for Portland Cementwhich recorded a year-on-year decline of 32% in the second quarter, thus becoming the second sharpest drop in the historical series that began in 2004, barely surpassed by the figure for the second quarter of 2020.
Wages are also falling in real terms
On the other hand, the average salary of registered workers in the Construction Industry reached in June the $1,067,732.4a figure that includes the payment of the half-yearly bonus.
Thus, the average nominal remuneration received by workers showed a year-on-year growth of 246.7%, compared with inflation of 271.5% over the same period.
Source: Ambito
