The Department Of Labor’s Bureau of Labor Statistics JOLTS release yesterday showed that job openings posted by US employers reached an all time high in July.
The overall JOLTS Job Openings number was reported to be 6.2 million, up 0.9 percent from June.
Here is the graph of Job Openings posted for the manufacturing sector since the beginning of the JOLTS tracking.
Here is the graph for Hires in Manufacturing since the beginning of JOLTS tracking.
What does this mean for you?
- If you are unemployed- There is no reason to be. There are a record number of job openings all across the economy, and as can be seen in the chart above, especially in well paying manufacturing career areas such as machining, welding, and other skilled trades.
- If you are employed already- Now is the time to increase your skills. The sheer number of openings means that opportunities for you to land a higher skilled job- promotion- with your current employer- have never been higher. (And this is not counting the wave of baby boomer retirements yet to come.)
- If you are an employer- Training, Training, Training. The JOLTS numbers and chart above show that it is a very competitive market to try to find new hires. It is likely that the best employees that you will have in five years are employees that you already have on your payroll. Train them to grow their capability and your shop’s competitiveness. PMPA member companies can use our online training to start training the talented performers that you already have. And to aptitude test candidates. PMPA MFG-TRAINING
Every week we get a drumbeat of economic releases. There are so many that sometimes it is easy to just nod and go on with what ever urgent thing is on our plate at the moment.
This JOLTS report is different. It is a sentinel call to us that the jobs market has changed, and how we think about talent and skills in our shops needs to change as well.
If you are a PMPA member, our new Online Training Program might just be the perfect tool to help you deal with the jobs and skills dilemma that you face.
If you are not a PMPA member, contact us to find out how you can become a member and gain access to our members only online training program for your employees.
And if you are unemployed, and would like to find out what a job in precision machining might be like, check out our Game Changer Video.