Recent research from Money.co.uk has revealed that the motor repair sector made the third fewest redundancies last year, highlighting the extent to which the skills shortage is limiting workshops’ ability to change staff.
Following a recent further 0.1% GDP recovery as the UK continues to climb out of a recession, new research highlights how few redundancies the motor repair sector is making, with only science and social work pipping it to the post.
This 0.1% GDP increase shows that the UK is continuing to gradually recover from the economic turmoil caused by COVID-19 and the cost-of-living crisis that lost and put many jobs at risk.
Some industries have managed to ride this wave better than others, but only some industries are experiencing growth in these tougher times and some have been forced to make more redundancies than others.
The money.co.uk business bank accounts experts have analysed government data to reveal which industries recorded the fewest redundancies in 2023.
The wholesale, retail and repair of motor vehicles sector ranks third, with a redundancy rate of 4.2%. This sector includes various activities, including selling new and used vehicles, parts and accessories, maintenance and repair services, and even fuel sales.
For more information, click here.
