U.S. aerospace sector to experience 3.2% job growth in 2016
The U.S. aerospace and defense industry is poised to add 39,443 jobs in 2016, an increase of about 3.2 percent and the first job growth in the sector in five years, according to a study by Deloitte.
The anticipated growth will be driven by a rebound in the U.S. military market, which lost about 185,000 jobs over the last five years due to budget cuts and the drawdown of military forces in the Middle East, the report said.
The Pentagon’s plan to add $13 billion to its fiscal 2016 budget will help drive a 3.7 percent increase in jobs in the defense part of the sector, while low oil prices and strong travel demand should boost employment in the commercial sector by 1.8 percent, the report said. | READ MORE