Friday, March 9, 2012

Skilled Worker Shortage

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Here is the transcript.

Two years. the CEO, Lew Frankfort will be on later today. we can only bring back jobs if we, a, have manufacturers expanding, and, b, have manufacturing workers who are ready, willing and able to take those jobs. our Philip Lebeau with the jobs in America look at manufacturing. do we have one? do we have both? do we have either, Phil? you've got the expansion in manufacturing, Brian. we don't have the skilled workers to fill those jobs. they make water jet steel cutting metal cutting machines. they're working on something here. while they're doing that i want to look at a survey Deloitte did recently with ceos of manufacturing companies. 74% of the CEOs said they have a shortage of skilled laborers. and here's the problem, they think the image of factory jobs or working blue collar in this country has been hurt. and that's because people look at it and say, well, they're dingy dirty places, i don't want to work there. the manufacturers are now working with trade schools and colleges to change that image. in fact, one manufacturer, SGS tools, has a unique recruiting video. SGS tool company. turning into a program. what's this? I think it's a chance for me to do the type of things i really like to do. I'm good with my hands and I love figuring stuff out. this looks like a machine job. do you really want to spend the rest of your life standing behind a dirty machine? it's so not like that. it's a big global corporation -- the fact of the matter is machine shops are no longer dirty and dark. much more complex machinery that people need to operate. more computer knowledge is required. and manufacturers are seeking younger employees to help replace replace an aging work force. still CEO's are a little frustrated by the lack of skilled laborers out there. i could go to 50 states in this country and get the same story from manufacturers. in fact, we do because we talk to many, many companies. and, yes, it is frustrating because I think there's an opportunity and a disconnect that's occurring right now in our economy. we're back live. I want to show you something we are working on. over the last couple of minutes the machine here took a piece of metal and, can you see here what they did? it's becoming clear now. Just for you, sully, look what they made for you. oh. little street signs cutout right there. lovely. did that in about ten minutes. so that's a take, just a sampling, of what we're seeing when we look at manufacturing jobs here in the u.s. right now. two things. number one, that is fantastic. please thank the workers there. that is very, very cool and obviously they are very skilled. back to the matter at hand quickly before i let you go, Phil, how many job openings in total -- that is beautiful. how many job openings are we talking about here? 264,000. and that has changed dramatically over the last two years. in fact, it's more than doubled. and the problem is they just don't have the skilled applicants. here they have maybe 200 to 250 applications filed over a two or three week period. they might interview ten. and of those ten they are unlikely to hire anybody unless they have the skill set. and that's the problem in this country. super quick question, Phil, how long will this manufacturing boom last? at least through the rest of this year they expect it to last and possibly well into next year. they have not seen a boom like this in manufacturing in the u.s. in at least 25, 30 years. let's hope it continues. Philip Lebeau, thank you so much for that. and please, do, thank the fine folk who is made that street signs sign. 

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