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Deloitte: Aerospace, Defense Employment to Grow 3.2% in 2016

Deloitte: Aerospace, Defense Employment to Grow 3.2% in 2016 - top government contractors - best government contracting event

market researchA Deloitte study predicts that employment in the U.S. aerospace and defense sector will increase by 3.2 percent, or approximately 39,443 workers, this year.

Deloitte said Tuesday the projected A&D job growth will be due to a rebound in the defense subsector’s employment levels after a five-year downward trend as a result of sequestration budget cuts at the Defense Department.

A&D companies directly hired 1.23 million new professionals in 2014, a 9.4 percent decline from the number of industry hires during 2010, the professional services firm noted.

Collectively, the top 20 defense businesses lost around 130,861 jobs between 2010 and 2014.

Deloitte also forecasts continued employment growth in the commercial aerospace subsector as manufacturers ramp up their aircraft production rates.

The company added that a demand for air travel, low crude-oil prices and a stable economy will also prompt aerospace firms to create new positions throughout the year.

The amount of employee wages and income taxes paid by the A&D industry grew over the past five years despite the decline in overall sector headcount since 2010, the report states.

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