Originally posted by darmstadt
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UK unemployment rate drops to 7.1%
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too many UK manufacturing companies are nothing of the sort but but foreign own entities exporting as many profits as they're exports
No reason to be too pessimistic about the UK. Many small UK companies have started trading overseas. We may have at last grasped that we can never compete with third world countries on price of basic goods and started doing what we should be doing, concentrating on innovation and luxury products. Also, things elsewhere do not stay the same. China is become less competitive as living standards rise and the population ages. The Lancashire textile industry is growing again as in this link:
The company's business has grown 50% year-on-year since splitting production between Lancashire and China and it now has an annual turnover of around £20m - but it is now the UK side which is proving more productive.
"Due to inflation and rising labour costs in China, and exchange rate differences with the yuan, the Chinese plant is becoming less competitive than the British manufacturing plant," says Mr Caldeira.
"It is as cost-effective to make them here, so at the moment we're losing capacity in China, and gaining it here."
Mr Caldeira thinks that it is not only his company which is fighting the long-term trend of British manufacturers losing out to cheaper, emerging economies.
"The tide is starting to turn. There is a rebalancing that's starting," he said.
"Chinese costs are rising faster than British costs, so anyone who is fending off competition from the Far East is finding that it's getting easier."Last edited by xoggoth; 22 January 2014, 20:38.bloggoth
If everything isn't black and white, I say, 'Why the hell not?'
John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)Comment
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Originally posted by darmstadt View PostIt may have gone down but the youth unemployment figures are at their highest since 1993 with nearly 950,000 unemployed and over 200,000 of those for more than a year.
So a greater than 5% drop.Comment
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Originally posted by minestrone View PostIt was over one million two years ago.
So a greater than 5% drop.“Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.”Comment
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