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

Students Parents0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

4% 4%

33%

4%

63%

92%

Agree No Opinion Disagree

Manufacturing is important to the economy

Future Labor Pool Looks Bleak

Students Parents0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

4% 4%

33%

4%

63%

92%

Agree No Opinion Disagree

Students Parents0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

35%

66%

20%

25%

17%

2%28%

8%

Not a Factor Minimal Factor Moderate Factor Major Factor

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