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Chinese Slowdown Slashes UK Manufacturing Jobs

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Data from the UK’s largest independent job site, CV-Library, today reveals that the period between July and August 2015 has seen a dramatic decrease of 24.2% in the number of manufacturing jobs. Furthermore, the nation as a whole saw jobs decline by 2.9% last month, meaning that the decline experienced in the manufacturing sector was 716.5% greater than the national average, indicating that China’s slowdown is having a significant impact on a previously stable industry.

In addition, when comparing last month’s manufacturing jobs deficit to the same time period in 2014, figures reveal a year-on-year decrease of 222%, confirming that levels are unusually low for the time of year. Other key findings in the manufacturing sector revealed:

  • The number of job applications decreased by 10.75% last month, compared to July 2015
  • CVs registered in August 2015 also decreased by 16.71% compared to the previous month
  • Surprisingly, average salaries in the sector rose by 2.61% last month, compared to July 2015

Interestingly, despite the Chinese market being in fear of decline over recent months (as reported by Bloomberg) the manufacturing sector had still remained relatively stable until now, with monthly job growth being reported:

  • Jobs in July 2015 – 12.3% increase compared to June 2015
  • Jobs in June 2015 – 16.1% increase compared to May 2015
  • Jobs in May 2015 – 0.3% increase compared to April 2015

Lee Biggins, founder and managing director of CV-Library, explains: “The fact that the manufacturing sector is suffering so badly suggests that the slowdown in China is having a serious impact on one of our key industries. The decrease in jobs indicates that recruiters are more hesitant to fill job roles at this time, whilst the fall in applications points to a level of uncertainty from candidates, probably due to the instability of the current market.”