Even before COVID-19, the manufacturing industry was struggling to fill open jobs. More than 1.4 million jobs were lost during the pandemic. A study from the Manufacturing Institute and Deloitte, that labor shortfall is going to get worse unless we work on a solution.
That report makes a stark case for immediate action, saying:
- By 2030, manufacturers will need to fill 4 million jobs, 2.1 million of which could go unfilled if we do not inspire more people to pursue modern manufacturing careers.
- The cost to not filling those opportunities can be significant, preventing manufacturers from taking on new work and expanding their offerings.
- Deloitte estimates the cost of those missing jobs could potentially total $1 trillion in 2030 alone.
During this Manufacturing Week, the U.S. Census Bureau takes a closer look at what can be done to avoid this dire labor shortage by encouraging the creation of a more diverse workforce and providing the training needed to create a stronger talent pipeline.
Read the analysis here: Manufacturing Faces Potential Labor Shortage Due to Skills Gap
Read more about the skills gap in manufacturing here: WorkingNation on the Manufacturing Industry