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Not only are raises smaller, but with output falling, hours have been cut.
Even Germany has not been immune from the slowdown, with manufacturing and industrial output falling.
July's construction PMI broadly is consistent with output falling by about 3.5% quarter-on-quarter.
In an attempt to prevent output falling, governments embarked on substantial fiscal and monetary easing.
However, with construction output falling, employers are in little mood for that.
"We're not talking about industrial output falling, we're just talking about a slowdown," Mr. McKelvey said.
Similar(24)
But output fell by 7%.
In the event, output fell by 2%.
Iron ore, coal and petroleum output fell.
In 1989 economic output fell by 8.3percentnt.
Mining production fell 0.4percentt and electricity output fell 1.2percentt.
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