Survey shows local manufacturers cautiously optimistic

After a year of the Technology & Manufacturing Association's monthly member manufacturing survey, some key trends have emerged.

The data shows Illinois manufacturers' overall outlook in July at 84 percent positive, a number that has been steadily on the rise, increasing 16 percent over the past year. Optimism is driven by the national economic boom, with strong optimism in the national economy, though the data has shown a marked decrease in optimism since March likely due to the tariff debate. On the other end of the spectrum, optimism in the Illinois economy has been pointedly lower, hovering at or below 20 percent throughout the past year.

"This past year has shown a lot of up-and-downs for the manufacturing industry in Illinois," said Dennis LaComb, TMA's vice president of government relations. "While the economy has increased overall, there are major pain points affecting the growth of Illinois manufacturing and holding back what could be a much larger economic boom for our state. Our elected officials need to focus on enacting policies that alleviate the strain on the makers and doers who drive our state's economy."

The survey data shows significant pain points that are negatively impacting manufacturing companies. The primary pain point for manufacturers remains a lack of skilled workers, which has held over a two-to-one lead over the other seven pain points for most of 2018. Recently the data has shown a clear increase in material costs as a major pain point for manufacturers, with this number reaching its highest point in the latest survey.

"Feedback from our member manufacturers is clear, and it's no surprise: our industry faces a critical shortage of skilled workers. At TMA, we are doing everything we can to educate and prepare the next generation of manufacturers so they can step into these roles, but we need help educating the public that today's US manufacturing jobs are high-tech, highly-skilled jobs in precision manufacturing. Manufacturing has evolved, and so must our understanding of this vital industry," summarized Steve Rauschenberger, President of TMA.

The Illinois Manufacturers' Outlook is a monthly survey taken of TMA's members to track the opinions of Illinois manufacturers. A random sample of twenty-five of TMA's thousand members are surveyed live each month.