Manufacturing firms express concerns about interest rates and a shortage of talent

ShortagesHot Spots
Written By Jennifer Joslyn

🔧 Manufacturing firms express concerns about interest rates and a shortage of talent.

A recent study conducted by Sikich, a Chicago consulting firm, reveals low optimism among manufacturing industry leaders due to rising interest rates, economic challenges, and a talent shortage. More than half of manufacturers surveyed rated their optimism about business prospects in the next six months at a seven or lower on a scale of one to 10. Additionally, manufacturers have faced the need to increase wages to attract and retain talent, with over half reporting wage increases of 5% to 8% in the past year.

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Jennifer Joslyn
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