Openings for skilled workers as older workers retire are seen as the biggest challenge facing manufacturers in this economic policy report from Connexus Indiana and CBER Muncie.
“The most significant challenge facing Indiana’s manufacturing firms is the very high percentage of workers nearing retirement age (more than one in six workers over the next 10 years).”-CBER Manufacturing and Labor Market Frictions, Connexus Indiana, CBER Muncie Indiana.
“Since 1998, the share of manufacturing workers aged 55 to 64 has grown from 9.8 percent to 16.8 percent, which is a 71 percent increase in share in less than a generation’s time. This rapid growth is due to the movement of the baby boom generation into near-retirement and retirement years.
Although this transition is occurring across the economy, it is larger and growing more rapidly in manufacturing.” CBER Report
And it is not just in Indiana. This trend can be seen nationwide.
Skilled workforce. Our greatest challenge.
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