Weekly Report - 4 January 2005

EMPLOYMENT | Industry still shedding jobs. Employment in manufacturing in the first 10 months of 2004 was down 3% on the same period of 2003. The biggest declines were in textiles and apparel (-5.9%) and chemicals and oil derivates (-3.1%). There were, however, encouraging signs towards the end of that period. Companies have been shedding more white-collar than blue-collar personnel, and figures for October showed that the decline in the manufacturing sector as a whole was decelerating (to 1.7% in the year).

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