By a lot of measures, U.S. manufacturing is doing pretty well. Manufacturing employment is at its highest level since April 2010. Manufacturing operations are running at more than 77 percent capacity. Spending on construction or renovation of factories is up 12 percent. And, more than 50 percent of companies plan to increase U.S.-based production by at least 5 percent in the next five years.
Those are welcome numbers, indeed. However, a lack of skilled labor could spoil the party, according to a study released in May by Accenture and The Manufacturing Institute. Accenture surveyed more than 300 executives from a range of U.S. manufacturers with average annual revenue of $100 million. The firm also interviewed a subset of these executives, as well as representatives of the National Institute of Metalworking Skills, economists, and industry specialists within the U.S. Department of Labor. The study was conducted between August 2013 and January 2014.