The U.S. Aerospace Industry Looks to Reduce the Numbers of Jobs Lost
The Aerospace Industries Association (AIA) is sending a delegation composed of U.S. officials and industry insiders in an effort to reduce the number of jobs lost, as last year saw a decline in the industry.
In 2016, aerospace and defense equipment employment fell by 0.6% to 2.42 million, with the majority of those job losses occurring in the supply chain, according to the AIA. The Paris Air Show is being treated as a place that the U.S. delegation can show up and help turn the tide of job loss, with many of the industry’s important trading partners being present.
The U.S. delegation is being led by Transportation Secretary Elaine Chao, Deputy Defense Secretary Bob Work, and FAA Administrator Michael Huerta. Roughly 350 U.S. companies from a total of 32 states plant to hold an exhibit at the show.
A good portion from the industry comes from foreign buyers and exports, but AIA President and CEO David Melcher says that this move is primarily about jobs, hoping that this will fit squarely in with President Donald Trump’s views on the American economy and where it needs to move forward from here.
While there is a drop-off in the sector in terms of jobs, President Trump has already come up against some of the heaviest hitters in the industry. Boeing Co (NYSE:BA), for instance, was the target of Trump’s very public wrath when the president learned the price associated with the new “Air Force One” that was being built by the aerospace company.
Trump has not been shy in publicly criticizing companies no matter what industry they are in, but with aerospace needing to stage a recovery over last year’s loss of jobs, the AIA is hoping that the president’s renewed focus on defense spending will help revitalize jobs and bring money back into the sector.
In any case, while many companies are headed to attend the Paris Air Show, ultimately jobs are still fleeing the sector, and company executives as well as government members are looking into how to contain this flow outward of workers.
“U.S. Delegation Puts Aerospace Jobs at the Forefront,” Aviation Week Network, June 18, 2017.