Deloitte Report Shows Significant And Growing Need For Manufacturing Workers

According to a new report from the Manufacturing Institute and Deloitte, the manufacturing industry will need as many as 3.8 million new workers by 2033, but if current workforce problems persist, 1.9 million jobs could be left unfilled. The report examines the workforce challenges manufacturers are facing, along with the investment and skills these workers will need to drive continued growth across the industry.

According to the study, workforce challenges are a top concern for U.S. manufacturers, and have been since late 2017. Specifically, filling open positions, and keeping them filled, is difficult. In fact, 65 percent of respondents to the National Association of Manufacturers’ first quarter 2024 outlook survey said attracting and retaining talent is their primary business challenge.

More than nine in 10 of the surveyed manufacturers said they are forming at least one partnership to improve job attraction and retention, and on average, they are partnering with four or more organizations. The top five partnership types among respondents are with technical colleges (73 percent), industry associations (58 percent), universities (48 percent), state and regional economic development agencies (47 percent), and K-12 schools (44 percent). Nearly half, 47 percent, of manufacturers surveyed indicated that apprenticeships, work studies, or internships at manufacturing companies would be the most effective way to increase interest in manufacturing as a career choice.

As a reminder, to help build the skills workers need to excel in the industrial metals industry, the Metals Service Center Institute recently launched a Skilled Trades Scholarship for existing MSCI member company employees. Learn more at this link and have members your team apply by May 1.