The Economic Perspective: “Jobs Going Wanting”

I’m Mary Walden, with economist MW, welcoming you to the economic perspective.  Today’s looks at jobs going wanting.  Mike, the good news for job seekers is that the job market continues to expand.   But the bad news for companies is many can’t find workers to fill their vacancies.  Is there one industry that stands out in this regard?

 

Mike: Summary Answer

  • Yes, one you wouldn’t necessarily think of – manufacturing
  • Today there are 500,000 job opening going unfilled in manufacturing
  • Up from only 100,000 in 2008
  • As a result wage rates are rising three times faster today than only two years ago
  • Why the shortfall – retirements, and younger workers believe there is no future in manufacturing
  • But wrong – there is a future, and the jobs are varied
  • I’m MW

 

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.