New studies have shown that construction workers who lost their jobs after the global economic crisis are struggling to get back on track. While some workers found a new job fairly quickly, others were not so lucky.
It has been estimated that 7% of people who lost their jobs after the recession have returned to their previous financial position. This has allowed them to maintain their standard of living. The vast majority of laid off employees say that their lifestyle has diminished. Approximately 15% of these people state that their income has been drastically reduced.
The construction industry has taken so long to recover as it suffered a large number of job losses. The housing collapse led to the loss of 2 million jobs. Since the economy started recovering, only 47,000 jobs were added to the industry. Those who do find work in this industry often have to put up with low salaries.
While the industry has suffered considerably, all hope is not lost. There are construction projects due to begin within the next few years. Those who are looking for work will find that there are vacancies out there. Unfortunately the competition for these jobs will be fierce. That being said those who are experienced and educated should be able to find work within a few months. Those who are in dire financial straits should consider joining a temporary work agency. This will help them pay the bills while they are out searching for new jobs in the construction industry.
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Image by Dan at Free Digital Photos.
