How MSCI Helps Address The Industry’s Workforce Challenges

The U.S. Bureau of Labor Statistics (BLS) announced last week that there were 10.5 million total jobs open in the United States at the end of November, or 4.45 million more jobs than there are unemployed workers.

Employers in the manufacturing and metals industry are among those that continue to struggle to find workers to fill open jobs. Not only did the BLS find there were 779,000 jobs unfilled in the manufacturing industry in November, according to the National Association of Manufacturers’ 4th Quarter of 2022 Manufacturers’ Outlook Survey, more than three-quarters of its respondents (75.7 percent) listed attracting and retaining a quality workforce as a primary business challenge.

Supply chain challenges also were high on manufacturers’ list of worries. Nearly two-thirds of respondents (65.7 percent) that problem as one of their top business challenges.

To help address workforce challenges, late last year the MSCI Board of Directors authorized a new scholarship program for current MSCI member company employees to advance in a skilled trade. MSCI staff is working to get this new program up and running by mid-2023. Connecting the Dots  will share more details this spring.

These investments reflect MSCI’s strong commitment to the people who make the industrial metals community so strong. A prepared, engaged workforce is a company’s greatest asset. MSCI members are encouraged to take advantage of the institute’s free human capital webinars and substantial suite of knowledge and learning offerings which can help member companies create, sustain, and motivate their workforce.