The National Association of Manufacturers (NAM) released the results of the Manufacturers’ Outlook Survey for the third quarter of 2018. Optimism among manufacturers remains exceedingly high (92.5 percent) following enactment of tax and regulatory reform. It’s on pace for the highest yearly reading in the survey’s 20-year history.
The survey also shows that despite the sustained high levels of optimism, the lack of enough skilled workers continues to pose significant challenges for manufacturers’ ability to grow their business.
According to the latest government data, there are more than 500,000 open manufacturing jobs in the United States. The inability to attract a quality workforce has forced more than one in four manufacturers surveyed to turn down new business opportunities, while one-third noted that they held off on plans to hire more workers due to workforce constraints.