The Lancaster County Workforce Development Board is proud to be participating in the Extraordinary Give on November 18. Your support of job seekers would be greatly appreciated.
Simply log on to ExtraGive.org anytime between 12:00 a.m. and 11:59 p.m. on November 18th and make your donation to the Lancaster County Workforce Development Board, or stop by the CareerLink between 10:00 a.m. – 3:00 pm. for our open house and giving party! CareerLink is located at 1016 N. Charlotte Street, Lancaaster, PA 17603
The baby boomer generation is hitting retirement age, and companies must prepare for what could be a major exodus, or some call it the "silver tsunami."
The US Bureau of Labor Statistics reports that as many as one out of ten workers will retire either this year or the next. It is projected that by the year 2020, about 25% of the U.S. workforce will be composed of older workers (ages 55 and over).
Lenexa, KS (Manufacturing.net, June 8, 2015): Employers last month delivered a vote of confidence in the U.S. economy.
They added 280,000 jobs — a surprisingly robust total at a time when consumers are hesitant to spend and the economy appears less than fully healthy. Some key industries, from energy to manufacturing, have been struggling. And economic troubles overseas have put investors on edge.
Yet Friday's report from the Labor Department showed that employers seem confident that the economy is regaining its footing after shrinking at the start of the year and that their customer demand will accelerate.
"It's kind of a strange situation because consumers are getting jobs, and their incomes are improving," said John Silvia, chief economist at the bank Wells Fargo.
Six years after the worst downturn in more than seven decades officially ended, Silvia said, "We've moved beyond the Great Recession."
Across the economy, employers are betting that steady hiring has begun to drive economic momentum. Home and auto sales are up. Restaurants, sports stadiums, theaters and hotels added 57,000 workers last month in anticipation of summer vacations.
Lenexa, KS (Manufacturing.net, June 5, 2015): U.S. employers added a robust 280,000 jobs in May, showing that the economy is back on track after starting 2015 in a slump.
The Labor Department said Friday that the unemployment rate ticked up to 5.5 percent from 5.4 percent in April. But that occurred for a good reason: Hundreds of thousands more people began seeking jobs in May, leading to the slight increase.
Last month's strong job growth suggests that employers remained confident enough to keep hiring even after the economy shrank during the first three months of the year. The government also revised up its estimate of job growth in March and April by a combined net 32,000.
Construction, health care and hospitality companies drove the May job growth. On the negative side, persistently cheaper oil led energy companies to shed workers for a fifth straight month.
Average hourly wages rose 2.3 percent from a year earlier, showing some pick-up. Still, pay is barely rising faster than inflation, a persistent problem for the economy that has limited growth.
One of the reasons Manufacturing Day was started was to address what's known as the "skills gap" — the mismatch between the skills held by available workers and the skills that manufacturers require.
While it's something manufacturers have felt for a while, it was first formally documented in a landmark study published by Deloitte and The Manufacturing Institute in 2001, and then updated periodically.
The 2015 Skills Gap Report has just been released and the concerning trends continue — there's a growing misalignment of skills in the manufacturing sector.
To read a summary of the report, download the presentation we've posted on mfgday.com. And while you're there, register an event or sign up to attend one. Let's do something about this skills gap!
Harrisburg, PA (Central Penn Business Journal, April 13, 2015): The midstate economy faces a crisis that experts say is certain to get worse before it gets better.
And it has nothing to do with mortgage rates, investment capital, taxes or any of those important things. It's not inflation or recession that has business owners concerned.
The issue is labor — specifically, finding enough labor to unleash the potential economic boom on the midstate.
"We haven't seen the worst of it yet," said Darrell Auterson, president and CEO of the York County Economic Alliance. "We've had a number of the baby boomers moving out of the workforce, and there's going to be more of them moving out of the workforce in the next 10 to 15 years."
In the latest seasonally adjusted unemployment rates, released March 31, all midstate metropolitan statistical areas (MSAs) were well below state and national unemployment rates of 5.3 and 5.5 percent, respectively.
The Lancaster MSA ranked second in the state with a 4.1 percent unemployment rate, while Harrisburg-Carlisle was tied for third at 4.3 percent.
Madison, WI (Manufacturing.net, April 1, 2015): U.S. businesses slowed their pace of hiring in March, a private survey found. The modest gains suggest that harsh winter weather has generated a broader slowdown that caused the survey to report gains of less than 200,000 jobs for the first time in 13 months.
Companies added a seasonally adjusted 189,000 jobs last month, payroll processor ADP said Wednesday. That's down from gains of 214,000 in February.
The slowdown in hiring was largely concentrated among firms with more than 1,000 employees. They added just 12,000 jobs last month, compared to 43,000 in February.
The construction, financial and trade and transportation sectors all reported adding jobs at a slower pace in March than February.