Stimulus package boosts construction jobs

The Federal government’s stimulus package is expected to save up to 50,000 jobs in Australia’s non residential building sector.

That estimate comes from a new survey, just published by the Master Builders’ Association.

The Association says the global economic crisis hasn’t yet caused a collapse in the nation’s construction industry.

But it warns that disturbing trends are starting to appear.

The Association says two factors prevented an outright collapse.

The industry already had a backlog of  work when the crisis struck last September.

The stimulus package had also helped.

However tighter criteria for bank lending had led to a massive fall in both residential and non-residential building approvals.

The Association said its latest survey confirmed a continued rebound in builder sentiment, during the March quarter.

It said that was encouraging.

However, it said,  most builders still believe conditions in the industry are poor.

“Builders are expecting slow improvement in the residential sector over the next six months,” the association said.

However it warned, also, that investor activity in the sector is still “sluggish.”