Transcript B. The Future of the Manufacturing Industry

THE FUTURE
OF THE
MANUFACTURING
INDUSTRY
Samantha
Wieczorek
AGENDA
Methodology
Background
Question at Hand
Employment Trends
Reason for Employment Trends
Manufacturing Today
METHOD
 Scholarly articles & interviews with industry
professionals
 Analyzed trends that have companies
rethinking their supply chains
 Focus of employment is in the Manufacturing Sector
only
RESEARCH QUESTIONS?
Has the Decline in Manufacturing jobs been
solely due to Globalization?
What is the Current Trend in the
Manufacturing Sector?
How will this impact the U.S. Economy?
BACKGROUND
 U.S. has had strong industrial background since the
late 1700’s.
 Plants were large in scale in both human capital &
size
 Encompassed 34% of all jobs in 1930’s.
 Decline in blue collar jobs have caused many to
think that globalization is to blame for our slowly
recovering economy
REASONS FOR DECLINE
 Globalization
 Industrial V Service Economy
 Education levels Increase
 Technology Advancements
 Increase productivity, lowers demand for
human capital
 Political Influences
 War in Afghanistan
 War on Terrorism
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MANUFACTURING EMPLOYMENT
20000
18000
16000
14000
12000
10000
8000
6000
4000
2000
0
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
April
1997
# of Jobs (in Thousands)
April
Year
Source: Bureau of Labor Statistics
MULTIPLIER EFFECT
 1 in 6 private Sector Jobs depends on
Manufacturing
Role Types
 Construction
 Mining
 Transportation
 Warehousing
Manufacturing supports 18.6 million jobs in
the U.S.
 11.8 Million directly in Manufacturing
Move Back to the U.S.
TREND & IMPACT
Despite competitive wage,
manufacturing employment
is not sought after
Manufacturing to
underdeveloped countries
continues
More companies have
shifted back to the U.S., but
jobs are not coming with
QUESTIONS?