Manufacturing jobs fall by more than 33,000 in three months

More than 33,000 manufacturing jobs have been cut in the past three months, according to a CBI report.

A total of 122,000 jobs have been lost in the manufacturing sector over the past year, the April CBI Industrial Trends Survey, of 664 organisations showed.

The latest figures revealed a loss of 9,000 more jobs compared with the previous quarter, which registered a 25,000 decrease in the number of jobs.

The cuts are due to continued production cost rises in the manufacturing sector, the CBI said.

Ian McCafferty, chief economic adviser at the CBI, said: “In recent weeks, the price of both oil and metals has hit record highs. In the face of these unprecedented costs, manufacturers have continued to make job cuts and focus any new investment on improving efficiency in a bid to rescue profit margins.”

But McCafferty said there was an increase in demand for manufacturing products.

“There are glimmers of hope on the horizon for manufacturers who have endured a long-lasting downturn,” he said.

“But at a time when commodity and energy prices continue to rise unabated, UK manufacturing is not out of the woods yet.”

www.cbi.org.uk

 


 

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