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Read more about: Unemployment 
There has been much talk recently that a major fall-off in jobs in the construction industry was on the cards. So the CSO Index of Employment in Construction, June 2007 (Provisional) May 2007 (Final). Makes interesting reading. Employment in June is down 1.1% on June 2006 but still ahead of June 2005. So overall not a bad situation just yet. The next few months may prove telling
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indeed it is food for though but the major numbers are September/October numbers where the builders holiday layoffs begin to filter into the numbers.
Your right tho, these numbers are not as bad as could be expected. Taken in the whole of house price falls and inflation rises though suggest there is a potential for worse, far worse.