Builders flag job cuts

BUILDERS are expecting a sharp fall in activity in 2009 with more than 80 per cent forecasting job cuts, Master Builders Australia says. The latest quarterly survey of the building and construction sectors found builder sentiment plummeted in the final months of the year.“Builders are now signaling that they intend to cut employees and subcontractors in the period ahead,” MBA chief economist Peter Jones said.One glimmer of light was evidence of early signs of activity, particularly in housing, as a result of the interest rate cuts and the extension to the first homeowners’ grant. But Mr Jones said the serious deterioration in activity meant the industry needed similar additional economic stimulus during 2009.