Manufacturing workers benefit from "wage premium," economists say | Will there be enough workers to support petrochemical expansion? | Economy added 14,000 manufacturing jobs last month
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March 13, 2013
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Manufacturing workers benefit from "wage premium," economists say
Manufacturing workers take home about 17% more in total compensation than workers in other industries with similar skills, according to Commerce Department economists. While factory workers make slightly less on average than the private sector as a whole, their medical and retirement benefits are 60% more generous. The Washington Post (3/7)
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Will there be enough workers to support petrochemical expansion?
U.S. oil and natural gas producers are finding it difficult to source sufficiently skilled employees for petrochemical expansions that could be worth $100 billion. The shortage makes it likely that more energy companies will seek to recruit skilled workers from other industries, executives say. "If you can spell 'shale,' you can get a job," said Ryan Lance, the CEO of ConocoPhillips. Bloomberg Businessweek (3/7), Reuters (3/6)
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Trends in Education
MIT study focuses on industry-university partnerships
Partnerships involving manufacturers and universities can help drive innovation and create a more robust manufacturing industry, according to a 2-year study by MIT researchers. Such partnerships can help grow manufacturing ecosystems in which smaller firms can thrive, the researchers said. IndustryWeek (3/8)
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Chemical producers combine on worker-training program in N.J.
Solvay Specialty Polymers and Johnson Matthey are part of a group that established a training program for skilled manufacturing workers with Gloucester County College in New Jersey. A community college "was a natural choice for us. It can offer a high-level education at a modest price," said Lucio Siano, CEO of the U.S. unit of Italian specialty chemicals producer COIM, which also partnered in the effort. "From a cost point of view, this is better. From a cultural and educational point of view, we cannot do better than to put them in classes with professors who are experts in the subject," Siano said. ChiefExecutive.net (2/26)
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Mass. proposal would bring STEM academies to community colleges
Massachusetts House Speaker Robert A. DeLeo has proposed a plan that he says would help students who enter community colleges needing math remediation. The STEM Starter Academy would provide intensive math instruction for such students using an immersion model in which students could spend up to three hours a day, five days a week in math class. Boston Herald (3/8)
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Career Development
How to survive financially while job hunting
You'll need to trim expenses while searching for a job, such as by cutting back on your cellphone plan, David Bakke writes. Job-search expenses can be tax deductible, so save receipts for "resume preparation fees, travel expenses, employment agency fees, and anything else you purchase specifically to find a new job in your current occupation," he writes. Houston Chronicle (tiered subscription model)/Salary.com (3/4)
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SmartQuote
We are all worms. But I do believe that I am a glow-worm."
-- Winston Churchill,
British prime minister
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