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U.S. Automotive Industry Employment Trends

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Topic: Automotive Industry

Sort Desciption: automotive industry â€“ the parts producing companies and the motor vehicle .... Employment in the U.S. automotive industry is only slightly healthier than ...

Content Inside: U.S. Automotive Industry Employment Trends Office of Aerospace and Automotive Industries U.S. Department of Commerce March 30, 2005 Overview The decline of domestic auto producers, GM and Ford, has been well documented in the national media. General Motors lost more than $5.6 billion on its North American automotive operations in 2005, while Ford dropped $5.5 billion on its North American automotive operations. Their market shares have been declining for years. GMâ€™s share, 36% in 1990, now stands at 26%. Fordâ€™s 1990 share, 24%, is now 17%. This situation forced their plants to run below optimal utilization levels, resulting in decisions by both firms in 2000 to shed several thousand production line workers. (However, those laid-off before September 2007 receive 95% of their wages, in accordance with the current and previous UAW union contracts, for up to three years.) With no immediate end in sight for their shrinking market share, the companies now have announced plans to close a dozen North American plants and to eliminate an additional 60,000 jobs through layoffs and early retirement buyout offers. Falling vehicle assembly by these automakers has resulted in declining sales for the thousands of domestic auto parts companies that derive the majority of their business from them. GMâ€™s and Fordâ€™s production in the United States has dropped 26 % from its 1999 peak. (Total light vehicle production is down just 8%.) This, coupled with Detroitâ€™s simultaneous demands for lower prices from their suppliers â€“ many of whom also are facing higher input costs â€“ has resulted in more than a dozen bankruptcies by key American auto parts producers, plus the loss of 174,000 jobs in the parts industry. Total Automotive Industry According to data from the U.S. Labor Departmentâ€™s Bureau of Labor and Statistics (BLS), total automotive employment in the United States increased by 8% from 1991 to 2005 (but by just 4% since 1990), rising from 1,054,000 ...

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