Bureau of Labor Statistics Job Openings and Labor Turnover Survey
The Bureau of Labor Statistics conducts a survey to help measure job vacancies, and provides a monthly report. SME evaluates the data and correlates it back to the manufacturing skills gap.
No Tea Leaves Necessary
September 7, 2016
September saw a flood of economic data - there was a lot to take in:
The ISM Purchasing Managers’ Index for August did signal contraction (a drop to 49.4), the first dip below 50 since February.
“If you’re reading the tea leaves of one month of data, you’re missing the larger, more important picture,” said Jeff Krause, chief executive officer of SME. “The services sector is struggling, but trends like growing exports and falling inventories indicate stable American manufacturing, powering our economy in GDP, employment and payroll.”
Manufacturing Craves Workers
August 10, 2016
While overall job openings and hires were relatively flat in June, manufacturing job behaviors continue to confirm the industry’s stable employment and struggles to find needed workers, according to today’s Bureau of Labor Statistics Job Openings report.
“The Job Openings report is a great indicator of opportunities available in manufacturing,” said Jeff Krause, CEO, SME. “The continued increase in openings, solid gains in hiring – and sharp drop in separations – show stability, satisfied and rewarded employees, and manufacturing strength.”
There were 377,000 manufacturing openings in June, and 283,000 hires. With 270,000 separations, net manufacturing employment rose and improved over May – and over June 2015.
May Job Openings Report: Manufacturers Face Challenge
July 12, 2016
The U.S. Bureau of Labor Statistics reported on May Job Openings and Labor Turnover this morning.
“Today’s report is evidence of economic and manufacturing sector stability,” said SME Chief Executive Officer Jeff Krause. “But, manufacturing hires are lagging openings by 25.5 percent, which is evidence that manufacturers are having trouble filling their workforce needs. This is the tip of a skills gap iceberg.”
Manufacturing job openings stood at 353,000; hires in May were nearly unchanged from April levels at 263,000. Across all private economic sectors the number of jobs open and available by American employers stood at 5 million on the last day of May.
What Industry Could Hire All of Minneapolis?
June 8, 2016
Don’t go into manufacturing, there are no jobs.
Right? Wrong! Or so says the Bureau of Labor Statistics in its April 2016 monthly Job Openings and Labor Turnover Survey. The numbers further highlight the growing struggle by manufacturers to find competent skilled labor to fill open positions. April saw a massive jump in openings of 23 percent, while hires only climbed less than 9 percent.
“Manufacturers want to hire hundreds of thousands of Americans, but the skilled workforce is lacking,” SME Chief Executive Officer Jeff Krause explains. “April saw the second straight month of job opening increases in manufacturing, with lagging hires. When combined with the average weekly wage increases announced by the BLS last week, we see manufacturers adjusting to retain and attract increasingly scarce labor, driven by an aging workforce, reduced interest in the industry and advancing technology demanding a new set of skills.”
Manufacturing Jobs Report Underscores Skills Gap
May 10, 2016
Manufacturing’s shortage of skilled workers was further supported by the Bureau of Labor Statistics today.
5.3 million American workers were hired to a new job (fewer than February) and job openings increased to levels not seen in 15 years, according to the March Job Openings report. Manufacturing-specific results mirrored those in broader report with 250,000 workers hired to new jobs – fewer than February – but manufacturing job openings jumping to 356,000.
SME Chief Executive Officer Jeff Krause explains: “Some might see the dip in manufacturing hiring as a contraction – but that wouldn’t explain the jump in job openings. Today’s data underscores the challenge manufacturers face in finding skilled workers. With a talented, skilled and ready pool of talent – the hires would jump. SME looks at workforce development as more than a challenge: it’s our job.”