Labour and materials

The latest data from Revelio Labs shows signs of upward momentum this year in the number of active construction job postings — reflecting to an extent bolder business and project plans amid the economic recovery beating expectations.

Respondents experiencing issues with labour supply have improved (36%) over the last six months compared to our previous survey (60%), which correlates with the lower number of construction vacancies reported so far this year.

GDP continues to grow, with forecasts of 3.0–3.5% year-on-year growth in the second half of this year — adding to business confidence. Hiring plans should gain traction as business expectations become more optimistic amid further anticipated interest rate cuts.

A slight majority of respondents (53%) said the current political situation in Venezuela will mean more labour availability in Peru.

Venezuelan migrants in Peru have previously tended to possess higher education levels on average than the local labour force, which may not necessarily lead to more competition but rather some redistribution of local workers toward lower-skilled jobs.

Lima’s relatively flexible and open jobs market should further help integration with limited costs to local workers.

Furthermore, licensing barriers or verification of qualifications are of less importance in some construction roles where informality is prevalent.