Industry Market Trends
Manufacturing in America: By the Numbers
October 5, 2012
Today is the first annual national Manufacturing Day, when facilities across the country invite the public to learn more about the processes and skills involved in modern production. To commemorate the occasion, we look at the powerful (and growing) role of manufacturing in the U.S. economy. Friday Oct. 5th marks the first annual Manufacturing Day, with manufacturers across the United States hosting special events and open houses to raise awareness about the complex, high-tech processes involved in modern production work and the value of a career in the manufacturing sector. While U.S. manufacturing suffered numerous setbacks during the recession, it has rebounded strongly and leads the ongoing economic recovery. There are still challenges ahead, but manufacturing is thriving in the U.S., forming one of the pillars of the country's financial success. Here we look at the impressive statistics underlying this key industry, showcasing the breadth and scale of domestic manufacturing. MADE IN THE U.S.A. $1.84 Trillion Amount of value added by manufacturing to the U.S. economy in 2011 Source: U.S. Bureau of Economic Analysis 12.2% Percentage of U.S. gross domestic product (GDP) contributed by manufacturing last year Source: Ibid. $1.35 Amount added to the U.S. economy for every dollar spent in manufacturing Source: Ibid. $2.76 Trillion Total value of materials used in the manufacturing in 2010 Source: U.S. Census Bureau $50.9 Billion Value of manufacturing contract work in 2010 Source: U.S. Bureau of Economic Analysis $42.5 Billion Value of purchased fuels used by the manufacturing sector in 2010 Source: Ibid. 700% Approximate rise in manufacturing GDP between 1947 and 2008 Source: The Manufacturing Institute 7.9% Rate of growth of durable goods manufacturing in 2011, which was the largest contributor to overall U.S. economic growth for the year Source: U.S. Bureau of Economic Analysis 44% Percentage of total manufacturing GDP represented by the four largest manufacturing industries: food; chemicals; computers and electronic products; and fabricated metal products Source: The Manufacturing Institute NATION OF BUILDERS 12 Million Number of workers employed directly by the various manufacturing industries as of June 2012, representing 9 percent of the overall U.S. workforce Source: U.S. Department of Labor 17 Million Total number of jobs supported by the manufacturing industry, accounting for roughly one out of six private-sector jobs Source: The Manufacturing Institute 6.9% Unemployment rate in the manufacturing sector, compared to the national average of 7.8 percent Source: U.S. Dept. of Labor 308,000 Number of job openings in the manufacturing sector as of June 2012 Source: Ibid. 294,620 Number of machinists in U.S. manufacturing in 2011 Source: Ibid. $540 Billion Total annual payroll for manufacturing employees in 2010 Source: U.S. Census Bureau $170 Billion Total value of fringe benefits to manufacturing workers in 2010 Source: Ibid. $300 Billion Total value of production workers' wages in 2010 Source: Ibid. 15 Billion Number of production hours worked in 2010 Source: Ibid. $77,186 Average annual earnings by an American manufacturing worker in 2010, compared to $56,436 among all U.S. workers Source: U.S. Bureau of Economic Analysis $195 Billion Amount spent by the U.S. manufacturing sector on research and development in 2009, accounting for two-thirds of overall R&D spending Source: National Science Foundation 1 to 4 Number of workers employed by the largest category of manufacturing firms-small businesses, with over 100,000 small manufacturing shops across the country Source: The Manufacturing Institute $500 Billion Approximate value added to the U.S. economy by manufacturers in just five states: California, Texas, Michigan, Ohio and Pennsylvania Source: Ibid. A GLOBAL POWERHOUSE 19.4% Percentage of global manufactured goods that are produced in the U.S. Source: The Financial Times 9th Ranking among the world's largest economies if U.S. manufacturing were its own country Source: National Association of Manufacturers $1.48 Trillion Total value of goods exported from the U.S. in 2011 Source: International Trade Administration $281 Billion Total value of goods exports to Canada, our leading trade partner, in 2011, followed by Mexico ($198 billion) and China ($104 billion) Source: Ibid. $218 Billion Value of transportation equipment exports from U.S. manufacturers in 2011, the top export category, followed by computer and electronic products ($201 billion), chemicals ($197 billion) and machinery ($157 billion) Source: Ibid. 57% Percentage of U.S. exports derived from the manufacturing sector Source: The Manufacturing Institute 60% Rate of increase of U.S. manufactured goods exports between 2000 and 2008 Source: Ibid.