But Huge Number Of Aging Workers Poised For Retirement; Engineers, Scientists, Mathematicians Needed

Even as the U.S. economy slows, with some economists saying it is in a recession, employment in the aerospace industries rose in March, compared to employment at the end of 2007.

That report from the Aerospace Industries Association (AIA) shows how the industry is cushioned by government spending from volatility of the private consumer marketplace.

Some analysts say the overall economy — ravaged by soaring oil prices, plummeting home prices and financial market turmoil — is suffering a downturn in output of goods and services.

The AIA reported that aerospace employment increased 0.9 percent in March to 651,700, from the 2007 year-end average of 645,600.

"This is good news for aerospace manufacturers and for workers looking for good jobs because the opportunities will continue," said Marion Blakey, AIA pesident and CEO. "While overall manufacturing employment has declined, our civil, defense and space sectors are strong with a record backlog of orders fueled by major export growth."

Aerospace employment has climbed steadily since hitting a low in 2003 of 587,100, according to the AIA. Employment is tied closely to record industry sales, which reached $198.8 billion in 2007 and are expected to surpass $210 billion in 2008.

The industry is facing a potential workforce crisis as scores of employees reach retirement age. According to AIA statistics, almost 60 percent of the U.S. aerospace workforce was 45 or older in 2007.

"As the workers that won the Space Race and the Cold War get ready to retire, there is a whole world of opportunity in this industry," said Blakey. "We can’t encourage the next generation of workers enough to study math and science so as to take advantage of the enormous number of exciting career opportunities."