Russian construction sector employment up 7% in 2011

2012-01-04



The number of people employed in the construction sector in Russia grew by 7% year on year, which translates into a growth by 198,000 people, in 2011, the Minister of Regional Development, Viktor Basargin, announced in December 2011. About 3.1 million people were hired in the construction industry by the end of the last year, or 6.6% of all employed persons in the country. Meanwhile, salaries in the sector were 20% higher than average in the whole Russian economy.

Additionally, the minister announced that government funding for residential construction in 2012 will be RUB 109bn ($3.5bn). It has also been pointed out by the minister that 88% of CEOs in the construction sector consider the economic situation to be favourable, whereas 21% forecast that the situation will improve in the coming months.