The construction crisis in numbers

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Published 13 February 2024 at 10.52

Economy. The construction industry has taken a number of different measures as a result of the slowdown in the economy. Almost a third have cut back on staff and a quarter have pushed prices in the projects. 27 percent expect to postpone planned construction starts. One in five is worried about losing their job this year.

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This year's Ramirenta report is published in March, where 500 respondents in the construction industry have had to answer questions about how they is affected by, among other things, the economy and the outside world.

The survey, carried out by Ramirent with the help of Novus, shows that half of all in the construction industry have taken some form of action to deal with the slowdown in the industry – close to a third have cut staff. A quarter state that they have pressured the prices in the projects and almost one in six refrains from investing in machinery or other equipment even though it is needed.

– Now more than ever, companies need to prioritize. It is important to use available resources as efficiently as possible, without compromising on safety or quality. Natural savings, such as downsizing of consultants or reduction of unnecessary business trips are unavoidable. But companies should also invest in long-term development and relationships to get through the recession, says Jimmy Dahlström, head of Ramirent's business area The temporary factory, in a press release.

It is clear that there is a sense of insecurity within the industry. This year, almost 20 percent of those surveyed say they are worried about losing their jobs due to labor shortages, which is a significant increase from 13 percent in 2023. Seven out of ten believe it will be difficult to recruit the right skills for the construction industry in the near future 10 years. Mostly because people don't think the construction industry is attractive enough, but also because it can be difficult to attract back people who have left the industry.

– This can be a challenge. If skills disappear to other industries, it may be difficult to attract them back. The increased complexity in buildings and in the design of projects means that new skills are needed. Today there is also a lot of knowledge, for example, about how to build sustainably, which is something the industry needs more of in the future. In addition, it has historically been difficult to attract competence at all organizational levels, which was also clear after the crisis in the 90s, says Jimmy Dahlström.

According to the Ramirent report, 27 percent expect to have to postpone planned construction starts in year.