A Talent Tightrope

MESSAGE FROM THE PRESIDENT

July 29, 2024

Today I’m across the Delaware River in New Jersey attending the Council of State Manufacturing Associations' conference where workforce is, again, a very hot topic. As we witness a steady growth in manufacturing here in Delaware and elsewhere, we’re challenged by state and national demographics. We’ve witnessed 25 years of declining birth rates in the U.S. and the long term trends are not very encouraging. Site selectors prefer geographies with an age population under 50 years old because the investment it takes to stand up manufacturing facilities is substantial.

The Delaware Workforce Development Board is doing its part to highlight the needs of all employers, including manufacturers, and the skills necessary to meet these needs. Particularly interesting is the work being done with unemployed and underemployed populations, exposing these Delawareans to the promising wages and benefits offered by positions in manufacturing and other key industries.

We’re hard at work on many initiatives that we hope will uplift many Delawareans like never before. Click here to download slides to learn more about the work being done by the Delaware Workforce Development board.

News You Can Use

Tuesday opens with key economic data on job openings for June and consumer confidence for July, followed by pending home sales, ADP employment, and remarks from Fed Chair Powell on Wednesday. Initial jobless claims are released Thursday morning, as is Q2 U.S. Productivity and ISM Manufacturing for July. We wrap up the week on Friday with the U.S. unemployment report for July and June factory orders.

It's a busy week for earnings calls. McDonald's kicks off the week and is joined by Centuri Holdings, Hope Bancorp, and Integra. Procter & Gamble headlines Tuesday's calls, along with Incyte, JetBlue Airways, Logitech International, Merck, PayPal Holdings, SoFi Technologies, and Sysco. Wednesday calls include Allstate, Bally's, Cognex, Corteva, eBay, FMC Corp, MetLife, and Sunoco, to name a few. Apple, Biogen, Exelon, Hershey Foods, Insperity, Wayfair, and Exxon Mobil are among the many others with calls scheduled on Thursday and Friday.

Michael J. Quaranta

President

Delaware State Chamber of Commerce

Uniquely Delaware

Manufacturing in Delaware - Job Supply is Lower than National Average

The Delaware Workforce Development Board completed Lightcast Data surrounding Delaware's manufacturing industry. The regional vs. national average employment helps you understand if the supply of Manufacturing is a strength or weakness for Delaware, and how it is changing relative to the nation. An average area of this size would have 42,240* employees, while there are 29,063 here. This lower than expected supply may make it more difficult to find candidates. The gap between expected and actual employment is expected to remain roughly the same over the next 5 years. Read the full report >

ALOFT AeroArchitects is a long standing VIP aircraft supplier with roots in specialty aviation component manufacturing. Dating back nearly 40 years, Aloft AeroArchitects has provided PATS Auxiliary Fuel Systems and other integrated systems and components to most aircraft OEMs and hundreds of aerospace customers.

Learn more