The Great Recession has impacted the manufacturing industry perhaps more than any other industry—a trend that shows no sign of slowing in the immediate future.
A joint Deloitte and the Manufacturing Institute report estimates that 2.6 million jobs will be lost over the next few years due to attrition and retirements. This results from a 58% increase in quit levels in late 2021 compared to pre-pandemic—a number that dwarfs every other industry.
The increased turnover is likely the result of multiple factors: a steady wave of retirement from senior workers (specifically those in the Baby Boomer generation), the Covid-19 pandemic worrying on-site employees of infection and increased schedules for those still employed, leading to a reduced work-life balance.
