The construction sector will be given the opportunity to hear the first public presentations of three key indicator reports, all of which have August 2017 release dates.
This week, the Ministry of Business, Innovation and Employment (MBIE) released its two headline construction reports:
- The 2017 edition of the Construction Pipeline Report; and
- The 2017 edition of the Future Demand for Construction Workers Report.
The two MBIE reports paint a positive picture of an industry experiencing prolonged demand. The 2017 Construction Pipeline Report advises that the previously forecasted peak of $37b in 2017, has now become a $42b peak in 2020. To assist in the delivery of this prolonged period of construction activity, the companion 2017 Future Demand for Construction Workers Report forecasts that the sector requires an additional 56,000 workers between 2016 and 2022. Half of those numbers will be needed in Auckland.
Next week, the 2017 Hays Construction & NZIOB Salary Guide will be launched. This report details construction salaries by occupation, bracketed with point-in-time sentiment and forecasting as provided by industry. Now in its 13th year, the Guide is well established as the authoritative remuneration benchmark document for the sector.
The NZIOB is hosting the first public presentations of these three important industry forecasting tools, in Wellington on Thursday 17th of August. This is a must attend event for all of those employed or invested in the construction sector.