Construction is the largest sector of the economy in Australia.
While the country’s population has increased by more than half in the past decade, construction jobs have been decimated.
The Bureau of Statistics estimates there are more than 1.4 million workers in construction, accounting for around 7 per cent of the total workforce.
It says the industry accounts for more than $2.6 billion in direct and indirect costs in the state and more than one-quarter of the GDP in Victoria.
In Victoria, construction is currently experiencing a “severely negative” trend, with unemployment exceeding 25 per cent.
But with the construction industry facing challenges from climate change, climate change-related disasters, and increasing public transport costs, many argue that the construction sector is in trouble.
A report from the Australian Institute of Management found that the Australian construction industry has experienced an increase in job losses and a decline in job growth in recent years.
The report, published by the Australian Construction Industry Association, found that construction companies have experienced “significant job losses over the past 15 years and have lost a net 2.4 per cent in annual earnings”.
“The construction industry is facing a severe downturn, with job losses, wage cuts and workforce cuts,” the report says.
It also found that a large number of construction jobs are in areas where climate change is already impacting.
“There are over 100,000 construction jobs in Australia that are projected to be impacted by climate change in the next 30 years,” the group said.
The report recommends that governments take a more holistic approach to tackling climate change. “
Over a quarter of the affected jobs are located in regional Australia.”
The report recommends that governments take a more holistic approach to tackling climate change.
It recommends that all sectors be prepared to adapt to climate change by addressing the impacts of climate change and supporting a resilient and resilient economy.