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Retirement-driven skills shortage to slow growth of Canadian manufacturing

Retirement-driven skills shortage to slow growth of Canadian manufacturing

The future of Canadian manufacturing growth will be impacted by a shortage of skilled workers. A recent study of manufacturers across the country by Canadian Skills Training & Employment Coalition (CSTEC) and Canadian Manufacturers & Exporters (CME) found significant growth challenges related to skills shortages, training and succession planning.

The report, released today contains two years of collected data, shows that while 61 per cent of manufacturers surveyed are optimistic about growth in demand for their goods over the next 3 years, 83 per cent of manufacturers experienced challenges hiring the skilled workers that they need. Worse, the shortage is expected to hasten over the next 10 years as manufacturers will have to replace more than 20 per cent of their workforce due to retirement.

“These forecasts reveal that serious skills shortages are looming over the next 10 years as manufacturers try to replace retiring tradespersons and technicians,” said CSTEC Executive Director Ken Delaney. “If current trends continue, there will be intense competition for skilled employees not only among manufacturers but also from other sectors including utilities, mining and construction.” Read More…

Retirement-driven skills shortage to slow growth of Canadian manufacturing

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