Manufacturing year on year jobs fall by 86,000

Jobs in the manufacturing sector in the three months to November were 86,000 down on the same period a year earlier. Commenting on today's numbers, EEF Head of Economic Policy, Lee Hopley, said: “The acceleration in the pace of job cuts across manufacturing comes on the back of a sharp downturn in production and growing uncertainty about the prospects for global demand. Companies have been doing whatever they can to hang on to skilled workers, but this is clearly becoming more difficult. Government has been active in trying to restore the flow of credit to businesses, but action is also needed to support companies’ efforts to avoid further significant job cuts.” Across the wider economy, the number of unemployed people, the unemployment rate and the claimant count all increased while the number of available jobs and average earnings fell. The unemployment total rose to 1.92 million – 131,000 up on the previous three months to August and up 290,000 on the same period a year ago – against some predictions that it would break through the two million barrier.