A strong manufacturing industry is fundamental to our nation’s economic prosperity. Since the industrial revolution, manufacturing has contributed to higher export potential, better standards of living, and more jobs. Investments in manufacturing have a strong multiplier effect for the broader economy, too. Every dollar spent in manufacturing adds $1.37 to the U.S. economy, and every 100 jobs in a manufacturing facility creates an additional 250 jobs in other sectors. In short, manufacturing matters.
The skills gap is widening
Over the next decade, nearly three and a half million manufacturing jobs likely need to be filled and the skills gap is expected to result in 2 million of those jobs going unfilled. There are two major contributing factors to the widening gap – baby boomer retirements and economic expansion. An estimated 2.7 million jobs are likely to be needed as a result of retirements of the existing workforce, while 700,000 jobs are likely…
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