Manufacturing Job Openings Reach All-Time High in October
New data out from the Labor Department underlines the severity of the workforce crisis facing manufacturers as job openings in the manufacturing sector jumped to a new all-time high of 522,000. There was a net hiring of 39,000 workers in the manufacturing sector in October, the fastest pace in 14 months.
Another sign of just how tight the labor market is, for the eighth consecutive month there were more job openings in the U.S. economy than people looking for work.
While the manufacturing sector is doing very well overall—as evidenced by the high optimism levels recorded in recent NAM Manufacturers’ Outlook Surveys—the sector also continues to consistently report strong levels of concerns about the difficulties in finding enough skilled workers in the very same surveys.