Interesting Facts about the Manufacturing Industry in America
Of all the kinds of industries we see today, manufacturing is one of the few indispensable ones. You may not be that attentive to it, but the fact is without manufacturing, there’s no way we get to use all the things that make life convenient for us every single day. Literally all the things we use and abuse are all because of the industry of manufacturing, including computers, phones, paper, clothes, among others. In turn, this industry is benefitting a lot from technology and constant flow of innovation.
When it comes to manufacturing, there’s no doubt that the U.S. leads the rest of the world in terms of scale and progress. And you know what’s more interesting… it’s the fact that this country’s manufacturing industry consistently leaves a lasting imprint among all other manufacturing industries in the world.
Anyway, let’s see some more interesting facts about this important sector of America’s economy.
1 – You probably don’t know that about 12% of the U.S. gross domestic product is covered by the country’s manufacturing industry. Having learned this fact, it’s safe to say the manufacturing indeed is the foundation of the country’s economic productivity.
2 – Today, about 10% of the country’s workforce find their means of living in the manufacturing sector. In other words, about 15 million American workers rely on the different segments of manufacturing to earn their living.
3 – Quite interestingly, if this sector is to be separated into an independent economy, it could be ranked as eight largest economy in the world based on gross domestic product.
4 – Whenever a new manufacturing job is opened, it corresponds to the opening of new opportunities as well to the local service businesses associated or linked to that new facility. There is some kind of domino effect, but in a rather positive way.
5 – Manufacturing is also the leader in all of the economic sectors in America in terms of the use of renewable energy. Well in fact, it uses more renewable energy, as measured in BTUs than the residential, commercial, and transportation sectors all in all.
6 – Aside from the commitment to the use of sustainable energy sources, manufacturing is also a big contributor in both research and development. The most obvious reason for the investment is because the sector in its entirety wants to be as progressing and constantly evolving as possible.
Upon learning all those interesting facts above, there now is very little argument in the premise that it is poised to become the biggest and most important sector in the U.S. economy in the immediate future.