Interesting Facts about the Manufacturing Industry in America
Manufacturing is a kind of industry that exists in every corner of the world. The fact is that every single item, product, or thing has to be manufactured first before we can use them. From simple stuff like pen and paper to more complex things like computer and machines, all of them wouldn’t be with us with first getting invented and manufactured. As for this industry, it wouldn’t be as huge and important as it is right now without technology and 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.
Anyway, let’s see some more interesting facts about this important sector of America’s economy.
1 – Did you know that the American manufacturing industry accounts for a little over 12% of the country’s gross domestic product? 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. Simply put, there are almost 15 million workers that get their livelihood on the various branches of manufacturing all over the country.
3 – A very interesting thought is that if this sector was to be made a separate economy, it would be the eight largest in the world if the basis is gross domestic product.
4 – Every time a manufacturing project or job is opened, it normally leads to the creation of new jobs in the local service businesses linked to it. This kind of effect is not surprising considering the high demand for labor in this particular sector.
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. Well in fact, it uses more renewable energy, as measured in BTUs than the residential, commercial, and transportation sectors all in all.
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 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.
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