What do you think of when you hear the word manufacturing? This vitally important industry had a stigma in the past, but the idea of a dark warehouse with an assembly line of underpaid workers is a far cry from what U.S. manufacturing actually entails.
Here are five facts from the National Association of Manufacturers that will make you re-think the way you look at manufacturing, and why it’s not a bad idea to consider a career in this field:
1. Manufacturers contributed $2.08 TRILLION to the U.S. economy in 2013 – that’s 12.5% of the GDP! For every $1.00 spent in manufacturing, $1.32 is added to the economy – the highest multiplier effect of any economic sector.
2. Manufacturing supports approximately 17.4 million jobs in the U.S. – that equals 1/6 of private-sector jobs.
3. In 2012, the average U.S. manufacturing worker earned $77,505 annually, including pay & benefits. The average worker in all industries earned $62,063.
4. U.S. manufacturers are the most productive in the world, far surpassing worker productivity of any other major manufacturing economy, leading to higher wages and living standards.
5. Manufacturers in the U.S. perform 2/3 of all private-sector R&D in the nation, driving more innovation than any other sector.
Did we also mention that taken alone, U.S. manufacturing would be the 8th largest economy in the world? Needless to say, this industry is heading in the right direction. The possibilities are endless when considering the technological advances of digital manufacturing (take 3D printing for example).