As the U.S. economy slowly recovers from the Great Recession, the workforce has its eye continually on the unemployment rate, job opportunities, and trends in hiring and job opening in order to reestablish the stability lost in the past decade. Job seekers and students of the economy alike might be impressed with the economic performance and trajectory of Northeast Ohio in these times. According to one recent study, despite the slower predictions in the national recovery, Ohio is expected not only to recover the jobs lost in the Recession in 5 years, but potentially experience a labor shortage over the next decade or so, as a result of retirement, newly created jobs, and turnover.
Manufacturing will be right near the top of this activity, right behind the robust medical industry, with high employment projections, and turnover rates. A portion of these manufacturing jobs will be the result of a technical workforce approaching retiring age, opening up technical jobs to a new generation of skilled employees. Part of the burden we at OVM share with other manufacturers is attracting and creating these technically skilled workers, as we’ve blogged about before. This period of turnover will be crucial to continued success of one of Ohio’s economic backbones, manufacturing and production.
As we continue to watch and participate in our region and our country’s recovery, we’ll be sure to keep an eye on our progress, and note with pride when Ohio helps to lead the way forward.