2015 appeared to be a difficult year for the manufacturing industry in the UK, registering some of the biggest losses where jobs are concerned across all sectors of the economy during the year.
This is according to the latest report from chartered accountants UHY Hacker Young, which found that the manufacture of chemicals saw a 12.9 per cent drop in employment numbers to 88,000, down from 101,000 – coming last out of all 69 sectors.
The company has put these drops in employment numbers down to the shift in manufacturing to countries around the world where labour costs are far lower, like Vietnam or China.
Partner at the accountancy firm Paul Daly said: “Manufacturing has seen employment numbers fall sharply in the face of international competition and ongoing technological advances.”
He went on to add that the fall in the pound should make exports cheaper, but the drop in output in the last quarter for manufacturing is concerning and perhaps suggests that the full impact of the EU referendum is yet to be fully realised.
This comes after the Chemical Industries Association highlighted four areas for the industry that would need to be addressed in Brexit discussions to keep the sector thriving once the UK exits the EU. These included having a tariff-free access to the single market, which could be pushed through with a free trade agreement.
If you and your business has need of a chemical manufacturer, get in touch with our friendly and experienced team here at Thermograde today