Qualified workers are going to come at a premium for manufacturers in the next decade and beyond, according to new reports from Deloitte and The Manufacturing Institute.
The shortage is linked to millions of retiring Baby Boomers, and young people who don’t see manufacturing as a career destination.
Production costs for companies that do business in China and other countries are going up as wages increase. And as the costs rise, more U.S. companies are reshoring, and looking for workers.
Many companies have internal programs in place to upgrade worker skills, while others are out in the community, working with schools and veteran’s groups as they search to rejuvenate a slimming workforce.
More on the worker shortfall facing manufacturers on IndustryWeek.