Manufacturing is one sector in which firms have implemented new production technologies and are in need of STEM workers. The Philadelphia Fed’s April Business Outlook Survey of manufacturers included a special question about the factors influencing their decisions to remain in the region. Respondents identified the availability of skilled labor as the most important factor.
They also ranked the availability of skilled labor as becoming a more important factor in recent years. These concerns highlight the importance of our educational system in equipping our young people with the skills necessary to improve their own lives and improve the communities in which they live and work. Better wages accrue to a more productive employee.