RTE 1 News has been following the aerospace engineering industry closely for some time now.
In 2015, we first published a detailed report on the impact of the global aviation industry on jobs.
In the year to March 2019, our data showed that, according to the latest data available, the aerospace industry employed an estimated 1.5 million people across Europe.
That figure represents a 6.6% increase from the year before.
That is a large increase and one that must be welcomed.
This is a good news story.
The sector has been losing its jobs to a range of sectors including tourism, logistics and manufacturing.
It is an industry that is not only vulnerable to automation, but also to climate change.
We are now seeing the fruits of the industry’s investments in new technologies and equipment being used to create new jobs and a new set of products that we can now afford to buy.
This was highlighted by a recent report from the National Institute for Economic and Social Research (NIESR) in which the research organisation reported that, between 2018 and 2021, the number of jobs created in aerospace fell by nearly 5,000, which was a significant decline.
This means that the total number of people employed in aerospace is now lower than the total workforce of the country.
This has been reflected in a decrease in wages.
A study by the Institute of International Finance (IIF) has shown that, since the start of the year, the median annual wage of aerospace workers fell by almost 9% in real terms.
As a result, the average annual earnings of aerospace employees is less than half of the annual average earnings of the UK workforce.
This makes it difficult for many people to secure jobs in aerospace and, in turn, this reduces demand for those who do have jobs in the sector.
The latest figures released by the Office for National Statistics show that in 2019, aerospace jobs are expected to lose a total of 9,500 jobs across the country, with the largest drop in employment occurring in the UK.
However, there is much more to be done.
For the industry to recover, it must be made more attractive for new jobs.
To this end, there are some measures that can be taken to help the aerospace sector.
This article is part of the RTE Aviation Industry Outlook series.
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RTE will not endorse the views expressed in the article.