St. Paul, MN (October 4, 2019) — The U.S. National Association of Manufacturers released the results of its Manufacturers’ Outlook Survey for the third quarter of 2019, according to Canadian.Manufacturing.com.
The survey of manufacturers provides evidence that a slowing global economy and uncertainties have manufacturers on edge, reports the NAM, the largest manufacturing association in the U.S.
For the second consecutive quarter, the survey shows a significant drop in manufacturers’ optimism amid uncertainties, a softening global economy and worsening workforce shortage. Nearly 68 per cent of manufacturers had a positive outlook for their business in the third quarter, down from 79.8 per cent in the second quarter and 89.5 per cent in the first quarter. The inability to attract and retain a quality workforce remained manufacturers’ top business concern (69.9 per cent) for the seventh straight quarter.
A workforce crisis
Earlier this year NAM launched the Creators Wanted Fund, a multi-million-dollar campaign designed to close the skills gap and inspire a new generation of modern manufacturing workers, said NAM President and CEO Jay Timmons.
Manufacturers have an all-time high of 522,000 open jobs, according to the most recent JOLTS data, and a landmark report published last year by Deloitte. The Manufacturing Institute – the workforce and education partner of the NAM – found that 2.4 million manufacturing jobs could go unfilled by 2028.
The survey found that trade uncertainties among manufacturers rose to 63.4 per cent in the third quarter, up from 56.0 per cent in the second quarter, as U.S. Congress and the administration work to approve the USMCA, secure a U.S.-China trade agreement and reauthorize the Export-Import Bank.
Conducted by NAM Chief Economist Chad Moutray, the Manufacturers’ Outlook Survey has surveyed the association’s membership of 14,000 large and small manufacturers on a quarterly basis since 1997 to gain insight into their economic outlook, hiring and investment decisions and business concerns.
Matsuura Machinery USA continues to expand the company’s St. Paul, MN workforce.
In recent months, due to continued growth, Matsuura has expanded its Accounting, Sales and Service Departments, in addition to enlarging the staff of the Matsuura USA LUMEX Additive Manufacturing Center.
Matsuura also invests in the next generation of talent through the company’s Matsuura USA Internship Program. The Matsuura USA Internship Program is a form of experiential learning that integrates knowledge and theory learned in the classroom with practical application and skills development in a professional setting. The program provides students the opportunity to gain valuable applied experience and make connections in professional fields they are considering for career paths.
To explore employment or internship opportunities with Matsuura USA, please visit: https://www.matsuurausa.com/careers/
Matsuura Machinery USA, Inc., located in St. Paul, MN is the U.S. subsidiary of Matsuura Machinery Corporation in Japan. Since 1935, Matsuura has been the forerunner in designing innovative technology and manufacturing solutions to a variety of industries around the globe. Matsuura Machinery USA, Inc. delivers unmatched excellence in 5-axis, vertical, horizontal, linear motor, multi-tasking CNC machine tools and machines with a powder bed metal AM platform with machining capability. Matsuura Machinery USA, Inc. provides the service, applications and technical field support that have always been the Matsuura standard for business. For more information on Matsuura products, contact: [email protected] or visit: www.matsuurausa.com.