U.S. Manufacturing Employment Expected to Decline Through 2024

According to the Bureau of Labor Statistics (BLS), manufacturing employment is expected to shrink at an annual rate of 0.7% through 2024. lista storage cabinet 

The manufacturing sector is predicted to lose 814,000 jobs while industries relating to healthcare, social assistance, construction, and mining are expected to witness solid job growth, reports a recent Product Design & Development article covering the BLS findings.

There will be a predicted 11.3 million manufacturing jobs in the U.S. by 2024 – compared to 12.1 million in 2014.

Further BLS data shows that 292,000 jobs were added in December 2015 but manufacturing only produced 8,000 of those jobs, notes a recent BizTimes article.

Manufacturing jobs totaled 30,000 in 2015 compared to 215,000 manufacturing jobs 2014, notes the article.

Manufacturing will continue to face challenges such as “headwinds like lower commodity prices, a strong U.S. dollar, and economic struggles abroad,” says National Association of Manufacturers chief Economist Chad Moutray in the article.

Technology is partially why the manufacturing workforce hasn’t bounced back since the recession came to an end, the article suggests. Automation has become increasingly accessible, causing the environment to become more complex, notes Wisconsin Center for Manufacturing and Productivity CEO Buckley Brinkman in the article.

As the manufacturing sector faces a fluctuating market, companies can continue to rely on Lista’s manufacturing storage solutions to drive workplace organization and productivity during such economic shifts.

Learn more about Lista manufacturing solutions or contact us for a quote!

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