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Kennametal CEO Addresses Misconceptions about Manufacturing; Calls for New Understanding as Industrial Technology
With more than half-million manufacturing jobs available today, and 2.7 million Baby Boomers expected to retire in the next decade, Cardoso presents the truth about manufacturing and busts the myths citing data from a survey
- Only 11 percent of people believe the manufacturing industry is growing, and more than two-thirds think the problem is a lack of jobs, rather than the lack of skilled talent to fill the jobs.
- Over 70 percent of Americans said they wouldn't recommend manufacturing as a career for their children.
"If we know "manufacturing" is a dirty word to the majority of Americans, why not consider a new name that defines today's reality?" said Cardoso. "A better label is industrial technology. Positioned as the "new IT", industrial technology is digitally-driven, smart production. It is the future of America, ripe with opportunities for a new generation digital-savvy talent."
He also explores the lucrative career opportunities in manufacturing, calling on industry to be the change and serve as a catalyst by partnering with high schools, career centers, technical institutions and community colleges to match young people with training and education that we need and they can put to work immediately, while earning great pay (
"We also must advocate for policy change, to coordinate and leverage federal, state and interagency workforce programs that are accountable for results; to overhaul an education system that blindly promotes the conventional four-year college path, when it is driving more kids to arts and sciences programs than we have careers to support them," said Cardoso. "We cannot sustain a system that leaves jobless graduates (and parents) holding a ballooning bag of college-loan debts for which they don't have means to repay."
Named one of America's "Best Chief Executive Officers" (Institutional Investor),
Celebrating more than 75 years as an industrial technology leader,
SOURCE
Media Relations, Christina Sutter, PHONE: 724-539-5708, or Investor Relations, Quynh McGuire, PHONE: 724-539-6559