w w w.in s i g h t o n m f g . c o m July 2014
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/insight on manufacturing
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millenials left behind
in manufacturing
Nanoparticles
Now exceeding revenues of $20
billion a year, the nanotechnology
sector is home to both small
nanoparticle manufacturers and
Fortune 500 companies. Total sales
of nanotechnology are expected
to reach $48.9 billion by
2017, after increasing at a five-year
compound annual growth rate of
18.7%. There are more than
1,600 consumer products on the
market using nanomaterials.
Currently there are thousands of
U.S. workers handing nanoparticles
and by 2020 there will be 6 million
worldwide with 2 million located in
the United States.
Source: Nanotechnology Toxicology Consulting & Training
tailored Label Products of menominee falls recently challenged
Wisconsin manufacturers to increase their appeal to millennials,
those ages 18 to 32, who are critical to maintaining a future
workforce. however, a thomasnet.com industry market Barometer
survey of more than 1,200 manufacturers say companies are not
bringing in millennials to replace retiring baby boomers fast enough.
according to the survey:
» 40% of the survey respondents have been hiring, but often cannot find the skilled
workers they need.
» Workers age 45 years or older now compose almost half of manufacturing
employment, up from about a third of workers in the mid-to-late 1990s.
from 2007 to 2010, manufacturing jobs fell by about
14%, according to the
Economics and statistics administration. But the declines were disproportional by age,
as manufacturing jobs held by those younger than 25 decreased by
29%, while
those 65 and older saw a
7% increase. Source: ThomasNet.com®, U.S. Economics and Statistics Administration
