Things To Know About America’s Manufacturing Industry

Manufacturing is one type of industry that needs to exist in every single country in this world. 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 what’s actually more interesting is that the way this country manages its manufacturing industry is in a way leaving a lasting effect to all other manufacturing industries in the world.

Anyhow, let’s move on and talk more about some interesting facts about this critical 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. Taking this into consideration, one can pretty much assume that U.S. manufacturing is an indispensable element of economic productivity.

2 – About 10-11% of the American labor force is employed in the manufacturing sector. Simply put, there are almost 15 million workers that get their livelihood on the various branches of manufacturing all over the country.

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’s this kind of effect in a sector that highly demands labor.

5 – Quite surprisingly, an active sector like manufacturing actually leads all other economic sectors in terms of its commitment to the use of renewable energy. As a matter of fact, it alone makes better use of renewable energy than the transportation, commercial, and residential sectors combined.

6 – Another remarkable fact about the sector of manufacturing in the U.S. is that it is a big spender in research and development. The reason for this is because the sector is pretty much a constantly evolving one that needs all the advancements and innovations it can get in order to keep up with other industries.

By learning all those facts, you now can easily come to the conclusion that the manufacturing industry is on track to becoming the most important and vital sector of the entire U.S. economy in the near future.

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