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Industry News

Jul 24 2015

The Manufacturing Institute Shares 2015 Skills Gap in Manufacturing Report

Posted by Andy Penkalski in Industry News

The Manufacturing Institute–in collaboration with management consulting firm Deloitte–published a study this year exploring the impact of skilled-labor shortages on industry growth.

As was the case with year's past, report shares a cautiously optimistic assessment of the American manufacturing labor force. While the industry continues to witness a steady revitalization with an annual average 4-percent growth, the manufacturing workforce remains in a state of crisis.

According to the report, the next decade will require an estimated 3.5 million positions to be filled within the manufacturing industry–2 million alone of these directly coming from a retiring generation of baby boomers. The report also projects that 2 million of these open positions will go unfulfilled. Amidst these figures, a staggaring 82 percent of excecutives responding to the Skills Gap survey indicated that this shortage will impact their ability to meet consumer demands.

–via The Manufacturing Institute

Unlike past years, this report does a better job of addressing the need to improve the perception of the manufacturing industry for young adults. According to the report, only 37 percents of correspondents indicated they would encourage their child to pursue a manufacturing career. This aligns with similar recent statistics regarding STEM-focused or trade-based educations; like how 66 percent of all high school graduates now enter four-year institutions with only 33 percent of that segment pursuing a scientific field of study that's not necessarily limited to engineering.

You can find the full report in the PDF below. The Manufacturing Institute also put together a data-loaded infographic, which you can find by clicking the image to the right.