Interesting Facts about the Manufacturing Industry in America
Manufacturing is a kind of industry that exists in every corner of the world. Well, there’s no denying the fact that all physical things we use to make our lives more convenient has to be manufactured somewhere, right? Everything we lay our hands on, including simple things like clothing, paper, and tools, to the more advanced ones like laptops and mobile phones, won’t exist without first getting manufactured. As for this industry, it wouldn’t be as huge and important as it is right now without technology and innovation.
With regards to being the biggest and most important manufacturing industry in the world, there is very little doubt that the U.S. owns this distinction. Perhaps the more interesting fact is that this country’s manufacturing industry is so huge that it always has an effect to the manufacturing industries of the rest of the world.
Anyhow, let’s move on and talk more about some interesting facts about this critical sector of America’s economy.
1 – You definitely should give manufacturing a tap on the back as it accounts for roughly 12% of this country’s gross domestic product. 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. 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 – The moment a manufacturing job or project is opened, it leads to the creation of new jobs too, in the local service businesses related to or associated with that manufacturing site. 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 – Aside from the commitment to the use of sustainable energy sources, manufacturing is also a big contributor in both research and development. The primary and most obvious reason why manufacturing invests a lot in research and development is because it sees itself as a consistently evolving sector that needs to keep up with the modern times.
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.
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