Trades, Finance - Construction Slows
Australia's construction sector last month suffered its steepest decline in activity in six years, and that means lost jobs.
The Australian Industry Group/Housing Industry Association's Australian Performance of Construction Index (PCI) measured its ninth consecutive month of contraction. The first three months of 2019 saw 9,000 construction jobs dry up, in addition to the 50,000 jobs list last year.
"This marked a tenth consecutive month of contraction in employment, consistent with the more subdued readings on activity from mid-2018," the survey found, "It indicates that construction businesses are responding to the ongoing weakness of overall demand conditions by exerting greater caution in terms of their labour recruitment."
The construction sector accounts for about 9 percent of Australian jobs.