Over the past few years, the topic throughout the manufacturing industry has been whether or not the industry will make a full comeback. With numerous companies issuing promises to reshore manufacturing, people want to know when new manufacturing jobs will become available. Unfortunately, while many employers want to bring manufacturing jobs back to the US, the process isn't moving quickly because many manufacturing companies are having trouble filling available positions.
Overall, the economy is still recovering from the 2008 recession, so it's not a huge surprise that manufacturing is making a slow and steady comeback. While it may not seem like the industry is recovering fast enough, it's actually in line with historic economic cycles—the average recovery period for significant downturns, like the Great Depression, is between six and seven years. The year 2014 marks the United States' sixth year in recovery from the 2008 recession, so just because manufacturing hasn't made a full comeback doesn't mean the industry won't see the resurgence it needs soon.
In order for the country to make a full recovery from the 2008 recession, the amount of available manufacturing jobs has to increase. Without available manufacturing jobs, unemployment levels will eventually stop decreasing, because there are numerous states filled with people who depend on high-paying factory jobs to earn a living. According to an article on BusinessMirror.com, wages for US factory workers are stagnant. While manufacturers have been competitive and overall the industry is seeing a profit, the middle-class jobs that are needed aren't available. Across the country, manufacturers are having trouble filling the jobs that are available because of the widening skills gap that's affecting the industry. In addition to the skills gap, manufacturing is an industry that people tend to look down on in some areas of the country. Some people believe that the manufacturing industry hasn't changed, but that's far from the truth. In fact, there are numerous high-tech manufacturing jobs that need to be filled nationwide.
According to Chad Moutray, chief economist at the Washington-based National Association of Manufacturers, lower labor costs are one thing that's helping US manufacturers stay competitive. So, it stands to reason that people working manufacturing jobs aren't going to see a pay increase in the near future. In fact, some of the states that are seeing the most increases in manufacturing jobs are the states that are the least unionized because it's easier to find people to accept jobs with lower wages.
Ultimately, the entire industry is beginning to be revitalized. The industry is showing a profit and manufacturing jobs are slowly being added. If the steady increase in manufacturing jobs continues and companies are able to fill open positions, it won't be long before manufacturing is in full swing once again. And, the more the industry grows, the easier it will be for the US economy to make a full recovery.
(Photo courtesy of freedigitalphotos.net)
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