The cost of living crisis affects not only individuals but also entire industries. The construction industry, in particular, has been a topic of concern regarding the effects of this crisis. This blog aims to explore the impact of the cost of living on the construction industry, as well as the impact on individuals who have completed NEBOSH and IOSH courses.
How is the Cost of Living Crisis Affecting the Construction Industry? While the cost of living crisis has affected many businesses and industries, the construction industry has remained relatively unscathed so far. The pandemic and the Ukraine conflict have affected the supply chain, causing issues across different industries. However, the construction industry has found ways to keep things balanced, ensuring the safety of workers while materials continue to come in.
One of the significant effects of the cost of living crisis on the construction industry is the rising costs of building materials. Inflation on building materials has risen by 25% compared to last year. Despite the increase in material costs, new development projects and infrastructure continue to emerge. The industry’s resilience has kept it thriving, with the housing market still booming, and more people investing in property.
- Despite the rising costs of building materials, the construction industry is taking steps to reduce waste and increase efficiency to keep project costs manageable.
- The construction industry’s ability to adapt and innovate has helped it remain robust despite external pressures.
- Skilled tradespeople are in high demand in the construction industry, providing opportunities for those with specialized skills or training.
- NEBOSH and IOSH courses are industry-recognized qualifications that can increase employability and provide a pathway to career advancement in construction and other related industries.
- The construction industry offers a diverse range of job roles, from on-site tradespeople to project managers and engineers, providing opportunities for people with different backgrounds and skill sets.
Are Construction Projects Still Being Developed? The answer is Yes. While some sectors like commercial and leisure have shown a slight decrease in awarded projects, residential developments, education, and infrastructure projects have experienced significant growth. The construction industry has remained steady in the industrial and healthcare sector in terms of awarded developments. The quarter figures for awarded construction projects are strong overall, indicating that the construction industry remains active and has little impact from the cost of living crisis.
Is It Worth Joining The Construction Sector? If you’re looking for a new career path, the construction industry could be a viable option. NEBOSH and IOSH courses can provide you with an edge to enter the industry. The construction industry is a sector that will always have demand, ensuring new buildings and areas are continuously being developed. At Wise Global Training, we offer a range of NEBOSH and IOSH courses for a career in construction. You can apply for courses directly through our website. For more information, feel free to get in touch with us.
