Earlier this year, we cited CNN Money’s report on how Ohio’s manufacturing sector was ramping up, gearing to handle the portended labor shortage, a shortage that occurs as baby boomers retire.
Since manufacturing accounts for about one-sixth of Ohio’s economy, and one-quarter of its job growth over the past two years, we plan to keep an eye on manufacturing, particularly in the auto, energy and steel industries.
The National Association of Manufacturers/Industry Week Q2 Survey says that opinions trend toward cautious optimism despite financial troubles in Europe that create an uncertain business climate. According to the NAM survey, “Manufacturers anticipate 4.3% gains in sales.” When sales growth occurs, employment usually grows as well.
Check-up on the auto industry
Take a look at 2Q12 results for Ford. According to the SAAR auto sales report, Ford has been gaining market share in the U.S. The company is hoping to continue those gains by banking on increased demand by consumers who currently drive older vehicles and will soon be ready to purchase.
Additionally, President and CEO Mervin Dunn, of Commercial Vehicle Group, New Albany, OH, announced CVG achieved “the thirteenth consecutive quarter of operating income improvement.”
Check-up on the energy industry
Nicholas K. Akins, president and chief executive officer, stated that American Electric Power, Columbus, Ohio, reported its results improved $.04 per share. He also attributes AEP’s success to its employees. “Severe storms swept through our eastern states on June 29, causing considerable damage. At the peak we had more than 1.4 million customers in five states without power, an unprecedented outage number for AEP. We’re proud of the efforts of our employees, contractors and crews from other utilities who worked long hours in extreme heat and difficult conditions to restore power to our customers.”
Check-up on the steel industry
On the other hand, AK Steel of West Chester, Ohio reports a net loss for the second quarter, which remains an improvement over the net loss of the first quarter. Though the firm reported an operating profit for the second quarter, numbers are down from same time last year. Improvements are inching along.
Want a job in manufacturing?
Slow improvement in Ohio’s manufacturing is still good news for job seekers.
Time Staffing is actively recruiting skilled workers to fill jobs in manufacturing, assembly, administration and general labor. We have six locations; one near to you. You can register and apply right now.
Time Staffing Inc.