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f production as land and capital. [5]

The employment rate for the three months to March 2010 was 72.0 per cent. The rate was down 0.3 on the quarter and it has not been lower since the three months to September 1996. The number of people in employment fell by 76,000 on the quarter to reach 28.83 million. The number of full-time workers fell by 103,000 over the quarter but the number of part-time workers increased by 27,000. The number of employees and self-employed people working part-time because they could not find a full-time job increased by 25,000 on the quarter to reach 1.07 million, the highest figure since comparable records began in 1992.

The unemployment rate for the three months to March 2010 was 8.0 per cent, up 0.2 on the quarter. The number of unemployed people increased by 53,000 over the quarter, to reach 2.51 million, the highest figure since the three months to December 1994. The number of people unemployed for up to six months fell by 52,000, to reach 1.21 million. However, the number of people unemployed for more than twelve months increased by 94,000 over the quarter to reach 757,000, the highest figure since the three months to May 1997. [6]

Large construction companies only tend to employ labourers from larger agencies. Due to the fact that agencies are making labourers redundant, therefore there is a fewer number of labourers for construction companies to employ. This can be a large influence on the overall production of a construction.

Capital Costs

Capital costs are costs incurred on the purchase of land, buildings, construction and equipment to be used in the production of goods or the rendering of services. In other words, the total cost needed to bring a project to a commercially operable status. However, capital costs are not limited to the initial construction of a factory or other business. For example, the purchase of a new machine that will increase production and last for years is a capital cost.

Capital costs do not include labour costs except for the labour used for construction. Unlike operating, capital costs are one-time expenses, although payment may be spread out over many years in financial reports and tax returns. Capital costs are fixed and are therefore independent of the level of output. [7]

In the construction industry it is very important to look out for capital costs, as some items may have a high capital, but they may have little return. For example purchasing a crane for a construction project would have a high capital but it is a very efficient plant therefore giving a high return. Thus, looking at capital costs can increase the production of a construction project.

Entrepreneur

An entrepreneur is a person who comes up with a new idea or invention and brings together a country's resources (land, labour and capital) to take the idea to the marketplace.

Entrepreneurs are vital to economic growth and, consequently, to higher living standards. Thus, legislators and other leaders who create economic policies should strive to encourage the innovation and risk taking of entrepreneurs. Enforcing property rights through contract, patent and copyright laws; encouraging competition through free trade, deregulation and antitrust legislation; and promoting a healthy economic climate through Federal Reserve anti-inflation initiatives—these are all exa