According to research from the Society for Human Resource Management, citing Bureau of Labor Statistics (BLS) data, the percentage of boomers retiring has doubled over the past eight years and will continue to increase until the last of the boomers reach 65 around 2030. This is particularly challenging for manufacturers. Not only are more than a quarter of manufacturing workers over the age of 55, but the BLS also notes that manufacturers have the highest tenure compared to other sectors.
The specific roles expected to feel the talent shortage most acutely are in skilled production, such as machinists, operators and technicians, which together amounts to more than 50 percent of the manufacturing workforce. Design engineers are another job role critical to manufacturing where a lack of workers will have a detrimental effect on the industry, specifically in the development of new products and manufacturing processes.
Businesses are seeking workers whose profile is different from that of decades past, when a high school diploma was more than enough. As robots take over much of the manual labor in factories, the new jobs being created tend to require computer and engineering skills and advanced training. That’s helped to fuel a boomlet of college investment in manufacturing programs.
If you’re looking to buy a car from Ford, you’ll soon have only one choice: a Mustang. Faced with plunging demand and declining profits from its passenger car lineup, Ford will shift its resources to the booming side of the market: pickups, SUVs and crossover-utility vehicles, said CEO Jim Hackett late on Wednesday.
Simply put, our country needs more African-American engineers to continue our nation’s progress and fill talent gaps in manufacturing. It begins with a commitment by business leaders to support organizations like the National Society of Black Engineers (NSBE), which is holding its annual convention in Pittsburgh today through Sunday.
Illinois manufacturers need about 27,000 workers a year, for the next five years, just to keep up with retirements. The only problem is, there aren't 30,000 workers with the skills to fill the jobs. "Manufacturers need 22,000 production workers and 5,000 engineers every year, for the next five years between now and 2027 just to cover retirements of the baby boomers,...
MSNBC host Chris Matthews said President Donald Trump is using tariffs to look out for “people that nobody else is looking out for” and argued that tariffs are also very much a “cultural issue” in the Rust Belt.
Perhaps it’s the natural human aversion to bad news -- sometimes known as the “ostrich effect” -- but few opinion leaders on U.S. economic policy appear willing to take a cold, hard look at the state of U.S. manufacturing. If they did, they wouldn’t be happy. First, U.S. manufacturing suffered catastrophic losses in employment and output in the 2000s; then its recovery in the 2010s was only modest; and now it faces existential challenges from a resurgent China that is well practiced in the dark arts of “innovation mercantilism.”
In early 2018, the White House is slated to start work on the congressionally-mandated National Strategic Plan for Advanced Manufacturing. While manufacturing issues -- including trade, tax, and regulation -- have been a major focus for U.S.
Over the next decade, an estimated 2 million manufacturing jobs in the U.S. will go unfilled. A 2014 study by Deloitte reports that the manufacturing skills gap will drive this deficit. According to the same study, about 70 percent of manufacturing CEOs say their workforce currently lacks technology, computer, basic technical and problem solving skills, while 78 percent said these shortcomings will hamper technological growth in U.S.