CHAPTER 1 The World of Work IMPORTANCE OF CAREERS Section 1.1.
The Importance of Manufacturing and Industrial Trades Careers
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Transcript of The Importance of Manufacturing and Industrial Trades Careers
The Importance of Manufacturing and
Industrial Trades Careers
Dr. Josh Bullock, President
Manufacturing’s impact
• Major Impact• Largest share of exports• R&D Intensive• Manufacturing pays 19% higher than
non-manufacturing.
The “NEW” Manufacturing Age
• The Rise of On-shoring• Rebounding labor market• Regional Manufacturing• Skill intensive
Looming labor shortage is real
• Major challenges in recruiting skilled labor.
• Talent gap a major risk in achieving business strategy.
• Two-thirds of job openings require post-secondary education.
Future Labor Pool Looks Bleak
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Manufacturing is important to the economy
Future Labor Pool Looks Bleak
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Manufacturing is important to the economy Mfg. Classes are not related to my/my child’s future
THE FUTURE WORKFORCESKILLED WORK WILL DOMINATE
Manufacturing is Evolving
Skilled jobs will far outpace others
Skilled Work in Illinois
18%
52%
30%
2008 Skills
Low Middle High
Skilled Work in Illinois
0% 10% 20% 30% 40% 50% 60%
Low Skill
Middle Skill
High Skill
18%
52%
30%
23%
43%
34%
WorkersJobs
2007
Manufacturing by the Numbers
Degree Attainment in Illinois
ADDITIONALANNUAL INCREASENEEDED
5.4%
ADDITIONALNUMBER OF DEGREESNEEDED TO MEETWORKFORCE IN 2025
1,273,954
• 40.8 percent of working adults (age 25-64) hold at least a 2-year college degree
Thank You