Industry experts say the steel industry is expected to see a decline in the number of workers and in the size of new factories and mills by 2020.
The industry is expecting to have a contraction in the total number of jobs of 8.1 million workers by 2020, according to a survey by the Steel Institute.
That’s down from a peak of 9.6 million jobs in January 2019.
But the decline is not expected to be enough to offset the decline in manufacturing employment.
“The industry is going to be smaller by 2020,” said Greg Smith, chief economist at The Conference Board.
“If the economy is growing and employment is growing, that means that the economy will continue to add to jobs and the industry is growing.
So, we’re looking at a slightly smaller overall population, less workforce.”
The survey of 1,500 manufacturing and logistics executives was conducted in February and March.
Its findings are based on responses from more than 2,200 people from nearly 600 companies.
Industry groups are lobbying the Trump administration to boost employment in manufacturing, but the administration has not been willing to make big changes to help that goal.
The president has said he wants the U.S. to get back to full employment.
But experts say that’s unlikely to happen until the end of the decade or 2020.
Many experts have predicted the downturn will be even more severe than the last downturn.
They believe the industry will have to shed nearly 1 million jobs.