By Daniel Hunter
The current slowdown in the Chinese economy is having a dramatic effect on the number of manufacturing jobs available in the UK.
Research by jobs board, CV-Library, found a 24.2% drop in the number of manufacturing jobs advertised between July and August.
Although growth remains comparatively strong, the Chinese economy is slowing down to levels not seen for several years. And it is having a bit impact on share prices not just in China, but around the world.
The UK 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.
Lee Biggins, founder and managing director of CV-Library, said: “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.”