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Manufacturing shortage could cost US economy up to $1 trillion

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(WTRF) – As the world begins to reopen, businesses need more help than they have for the past year.  

A study by The Manufacturing Institute found that as many as 2.1 million manufacturing jobs will be unfilled through 2030. 

Part of the reason for the shortage is the pandemic. 

With unemployment paying more than what people would earn at a job, there is no incentive to return to work.   

West Virginia Northern Community College President Dr. Daniel Mosser says this is good for their graduates because employers know they need to compete with unemployment.   

They may want to take a look at the wages they’re paying, take a look at the benefits package.  They may want to take a look at the working conditions, opportunity for promotion.  Training is a big retention tool for businesses.  So, businesses may have to take a fresh look at what they’re offering employees and be more competitive. 

Dr. Daniel Mosser, President, West Virginia Northern Community College

The study also found the shortage will hurt revenue and ultimately cost the US economy up to $1 trillion.

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