Credit crunch 'leads to manufacturing vacancies'

Opportunities for graduates to look for engineering jobs are being presented by the current financial crisis, it has been revealed.

The Financial Times reports that skills shortages currently exist in manufacturing companies in many European countries such as Germany, the UK and Switzerland.

Allan Cook, chief executive of defence group Cobham, told reporters the trend over the past ten years has been for students to seek careers in the financial services where they could "earn vast sums of money, get huge bonuses and have a glittering career".

He added: "Now we're saying to our graduates, 'Look, manufacturing is a fantastic opportunity. Grasp it. Take it. This is where the careers are'."

Earlier this month, union Unite stated the government should increase investment in new apprenticeships and on-the-job skills development in the manufacturing sector in order to aid economic recovery after the credit crunch.

Joint general secretary of the organisation Derek Simpson went on to blame the current manufacturing malaise on 1980s Conservative policies.

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Filed: 02-01-2009