Re-shoring of manufacturing jobs to bring 200,000 jobs to UK
30 April 2013
A report out yesterday suggests that as many as 200,000 new jobs in the manufacturing industry could be created over the next decade as outsourcing declines significantly.
Tue, 30 April 2013
A report out yesterday suggests that as many as 200,000 new jobs in the manufacturing industry could be created over the next decade as outsourcing declines significantly.
Available online, the study ‘Making at home, owning abroad’ is put together by charity the RSA (Royal Society for the encouragement of Arts, Manufactures and Commerce) and Lloyds Banking Group.
The extra amount that manufacturers are expected to produce would mean 300,000 new jobs if current levels of labour intensity were maintained, although because of new technology this will in reality translate to somewhere between 100,000 and 200,000.
The report suggest the extra production will come on the back of trends including rising oil costs, increasing regulations and changing patterns of demand, meaning that mid-sized manufacturers in particular will not in the long run be able to export at high volume. Instead, they will serve markets closer to home – making products for use in their home country or nearby.
Mid-sized companies are classified as those with turnover between £25m and £500m, with between 100 and 2,000 staff – there are around 2,500 such manufacturers in the UK.
In 2009 the manufacturing sector constituted just over 11% of the UK economy.
A report out yesterday suggests that as many as 200,000 new jobs in the manufacturing industry could be created over the next decade as outsourcing declines significantly.
Available online, the study ‘Making at home, owning abroad’ is put together by charity the RSA (Royal Society for the encouragement of Arts, Manufactures and Commerce) and Lloyds Banking Group.
The extra amount that manufacturers are expected to produce would mean 300,000 new jobs if current levels of labour intensity were maintained, although because of new technology this will in reality translate to somewhere between 100,000 and 200,000.
The report suggest the extra production will come on the back of trends including rising oil costs, increasing regulations and changing patterns of demand, meaning that mid-sized manufacturers in particular will not in the long run be able to export at high volume. Instead, they will serve markets closer to home – making products for use in their home country or nearby.
Mid-sized companies are classified as those with turnover between £25m and £500m, with between 100 and 2,000 staff – there are around 2,500 such manufacturers in the UK.
In 2009 the manufacturing sector constituted just over 11% of the UK economy.
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