
Engineering and manufacturers companies have not been affected by the credit crunch, according to a report, which may provide a relief for jobseekers looking for engineering jobs.
The research, by the Engineering Employers' Federation (EEF), shows that only three per cent of companies reported a major increase in credit costs.
Steve Radley, EEF's chief economist, said: "Despite rising oil prices, a falling dollar and a more uncertain economic outlook, manufacturers recorded another quarter of healthy growth and are looking to the future with a degree of confidence. Investment intentions also remain strong, reflecting their continuing commitment to drive up productivity."
The report also said that engineering will expand 1.3 per cent this year and a further one per cent next year.
Meanwhile, contracts have been signed for the £260 million second Tyne Tunnel project which will create approximately 400 construction jobs in the area.
The Sunderland Echo reports the majority of jobs will go to local construction companies.