Mike Barnard, 03 June 2008
Graduates hoping to enter the manufacturing industry this summer will be boosted by its defying of the economic gloom.
A survey by manufacturer’s organisation EEF and Grant Thornton shows businesses have posted their tenth consecutive quarter of healthy growth.
Although the employment intentions indicator eased to +3% from +9%, figures from the second quarter of 2008 showed it still marked the fifth consecutive quarter of positive balances. Recruitment was strongest in mid-size companies between 100 and 150 employees, with more than a third planning to increase jobs in the next quarter.
Firms reported a rise in domestic orders and export orders have also remained relatively strong but there are indications of a softening, possibly due to weakening conditions in the United States.
EEF Chief Economist, Steve Radley, said: “Manufacturers are providing a beacon of light amidst the current economic gloom and remain cautiously optimistic about their immediate prospects. Companies are responding to the squeeze on their margins from rising costs by continuing to invest in their businesses to drive up productivity.
"However, at a time of heightened uncertainty, the government needs to send a clear message that it will ensure that the UK remains an attractive place to do business."
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