There will be 4.6 million new manufacturing jobs in the US to fill between 2018 and 2028, according to a new report out yesterday from Deloitte.
Over half of the newly created jobs—2.4 million—are predicted to go empty.
The report attributes this to three main things:
Much of the manufacturing workforce is aging. More than 2.6 million baby boomers working in the industry are expected to retire over the next 10 years.
The rest of the new jobs—about 2 million—will come from natural growth. As the US expands its specialized manufacturing industry, more people will be needed to support the development.
That sounds like good news, but the problem is there aren’t enough workers ready to take on these new roles.
All these things are already making it harder to recruit workers. In 2015 it took an average of 70 days to find someone to fill a skilled manufacturing job. That’s creeping up.
That means it now takes an average of 93 days to fill these roles, a figure that’s only anticipated to grow in the next decade.
For the short term, the authors outlined three possible solutions to the shortage of potential employees:
For the long term, the report recommends that companies investigate a few different paths:
Without changes and investment from businesses now, they will be paying the price 10 years down the line.
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