Sunday, January 18, 2015

Positive Job Outlook for Recovering Auto Industry


The auto industry is recovering and 2015 promises to be a moderately good year for auto manufacturing jobs.

A Yahoo Finance report quoting Associated Press, said the U.S. economy was growing at a moderate pace in December and early January, helped by gains in sales of autos and other consumer products.
 
In their own report, Bloomberg Business Week said that one of the good things happening this year is strong sales of recreational vehicles made in northern Indiana! “We’re in the recovery—we’re recovered,” says Derald Bontrager, chairman of the Recreational Vehicle Industry Association. “Obama visited this area three times. We were referred to as the ‘white-hot center of the economy.’ ” Bontrager, the chief executive officer of family-owned Jayco in Middlebury, Ind., predicts the industry will tie unit sales records in 2015 and break them in 2016, thanks to rising U.S. employment and continued low interest rates. Read more here:

Reporting about Michigan economy, the Grand Rapids Business Journal also said that what drives the state economy is automotive. It continues to be the state's main strength. All of our auto parts producers have reported a good 2014, and some are cautiously optimistic about 2015. Read more here: 

Car manufacturers themselves note the industry's growth.
Last month, Jeff Schuster, senior VP of forecasting at global research firm LMC Automotive, noted that his company increased its total light-vehicle sales forecast for 2015 to 17.0 million units, up from 16.8 million previously, based on strong economic indicators. “The prospects for auto sales to overachieve in 2015 are moving closer to reality as 2014 goes out on a high note,” he said at the time. “Economic bliss, driven by job creation, wage growth and low gas prices may drive consumers to showrooms at a faster pace, emphasizing the notion that this recovery may not be over quite yet.” Read more:

Thus, the situation bodes well for automotive jobs. For Automotive Service Technicians and Mechanics, for example, the job outlook within the decade from 2012-22 is 9% which is as fast as average, according to the Bureau of Labor Statistics.

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