More jobs to go in factories as energy prices rise, say employers

Britain’s manufacturing industry is on course to lose about 100,000 jobs this year and employment in the sector could dip below 3m next year, according to a survey.

Although output is continuing to grow, albeit only slowly, margins remain under heavy pressure as companies find it hard to pass on higher energy prices, the survey by the Engineering Employers Federation (EEF), shows. The combination of tight margins and modest growth means a recovery in investment continues to be delayed, while job cuts across manufacturing are widespread in order to tackle costs. Export orders are continuing to rise but domestic orders have fallen for three successive quarters.

The Guardian