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Facts About Manufacturing

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March 05, 2024

Facts About ManufacturingImage Source: facts.net

 

The manufacturing industry is today one of the main contributors to the U.S. economy. This sector over the years has only been growing and it is today one of the largest employers in the States. However, innovations in the manufacturing field have always been driven by customer trends and demands.

 

Let’s find out the rising trend and the 9 top facts about manufacturing that will help you grow your business!

 

Did You Know That The Manufacturing Industry Contributes Over $3 Trillion To The U.S. Economy?

 

The figure refers to 2018 contributions, but it is on the rise! Since 2009, the numbers have been growing, and today the industry is worth three times it did 10 years ago. Manufacturing today accounts for over 11% of the total American GDP.

 

If these figures haven’t convinced you yet to take a further step in this field, check out these statistics:

 

America produced 18% of the merchandise in the world.

In terms of numbers, America is the second-largest producer in the world. 

Famous for its low-cost manufacturing, China is just before America. It currently produces 19% of global goods.

If you are thinking about starting a career in manufacturing in America, this could just be the right moment! America’s factories have now doubled their efforts to keep up with the competition. There are thousands of opportunities nowadays to get into this sector, as it is growing and innovating.

 

The Manufacturing Sector Is Always On The Lookout To Hire Rising Talents!

 

If you are concerned about the availability of job positions in the manufacturing sector in America, don’t be! The majority of factories and firms are always hiring and looking for new skilled employees. Manufacturing, in fact, is one of the largest employers in America, followed by the hospitality industry.

 

Manufacturing holds the fourth position as an employer, after health services, retail trade, and business services. It employs over 15 million workers across the States, which is 9% of the total workforce. Moreover, this industry supports over 18 million jobs, which is one in 6 jobs in the private sector in the country.

 

If you are worried about the availability of manufacturing jobs in the future, this study has shown that there is always going to be more! Since the great recession, 1.4 million extra job positions have been created and filled. However, the numbers are rising along with the expansion of the sector.

 

Technology Is One of The Main Rising Trends For the Future

 

The use of advanced technology is one of the biggest innovations in the manufacturing industry in America. Not only the production of technological goods has increased, but machines now have a special place in the manufacturing processes. Let’s see what recent studies have proven!

 

The Industry Is Creating A Virtual Global Workforce. 

Virtual reality can help industries gather the skillsets they need for innovation. Instead of limiting themselves to a pool of workers in the area, businesses are now hiring virtually. Using a virtual workforce can give them access to a highly trained pool of professionals globally.

 

Manufacturing Businesses Are Using Nanotechnologies for Maintenance.

Nanotechnologies can help identify malfunctioning pieces of machinery and prevent their breakage. With the help of nano-based tools, businesses can prevent having to substitute their highly technical equipment.

 

If you have any skills related to new technologies and their uses, manufacturing can guarantee you a successful career!

 

How Much Will You Earn? Studies Say Over $80,000 A Year!

 

For nonfarm manufacturing businesses, the average annual income is actually $66,000 for a standard job position. However, this figure rises when considering an average of the whole sector. In this case, we are looking at $84,000 annually and this often includes benefits and insurance.

 

If you are more interested in wages, you will be happy to know that the average hourly pay rate is $27. This is $5 higher than an average rate in the private-sector business workers. This makes manufacturing one of the highest paying industries in America, followed by the construction and real estate industry.

 

While this salary is for a standard job position if you have appropriate skills, you will be rising soon to a management position. In that case, you will be earning a manager’s salary. While this fluctuates, it can be worth $130,000 a year or $50 per hour, almost double the starting rate.

 

You Are Not Happy to Work for A Large Company? The Manufacturing Industry Is Led By Small Ones!

 

While there are perks to it, working in a large company can be intimidating and not as rewarding. If you feel like you would be better off in a small team, manufacturing is for you!

 

Here you can thrive and learn from your colleagues and add a personal touch to your everyday job.

 

This is what recent statistics have found out:

 

¾ of manufacturing businesses in America has around 20 employees.

Out of 250,000 firms, almost 244,000 have less than 500 employees. This categorized them as small businesses.

While heavily taxed, small businesses have a high rate of success.

The perks of working in a small business are many and proven over the years. It is easier to create personal relationships, know more about the business, and learn from other colleagues. Many workers have reported being happier in a smaller environment and consider this more rewarding.

 

Are You Worried About Your Health Insurance? Manufacturing Has You Covered!

 

Health insurance is one of the main concerns for any American workers and it can be a determining factor in the job choice. The percentage of workers in manufacturing that is eligible for health insurance is one of the highest in America. Over 92% of the workforce in this field have their health benefits provided by their employers.

 

This is 13% higher than for the rest of the American workforce in all firms. The only sectors that have higher percentages are government, trade, and services, which cover 85% of their employees. These numbers should definitely make you cond=consider a career in this field!

 

Moreover, 82% of manufacturing employees take part in their employers’ plans. This shows that business owners in the field are highly concerned about their employees’ wellbeing. This has been shown to be one of the greatest motivators for enhanced productivity and morale.

 

Manufacturing Can Offer A Rewarding Career Path

 

Manufacturing employees have stated that they are happy with their job positions and find it rewarding. Employers are finding ways to promote morale in any firm. For short term satisfaction, a pay rise can be the main motivator, but there are other ways to retain talents.

 

These are the best tools to promote recognition.

 

Promotions: while someone can say that these are old fashion, it can really increase employees’ productivity. In manufacturing, raising someone that has been trained within the firm can lead to loyalty and high morale.

Custom enamel pins: for a job well done, there is nothing better than rewarding your talents with awards. These, along with handwritten notes, can add a personal touch to the recognition and increase your employees’ job satisfaction.

Team building activities: these vary depending on the size of the business and can be on a large or small scale. However, all the employees will love an organized day out, and you will see a peak in productivity afterward!

 

American Manufacturing Businesses Export Over Half Of The Produced Goods

 

Almost half of the manufacturing output is sold outside the U.S., to nations that have free trade agreements with America. The exported 48.6% is worth over $680 billion and this figure refers to 2018 sales. Among the largest trading parties of the States, the European Union, China, and Canada are the main buyers.

 

Since America is exporting to really strong economies worldwide, the manufacturing sector’s forecast is extremely positive. Exponential growth is foreseeable for the future and the number of jobs created by this sector is only growing. For anybody looking to start a career in this industry, this can just be the right moment as there are incredible opportunities!

 

Moreover, small manufacturing businesses are thriving, and new ideas are being explored. In the field of new technologies and innovation, the American manufacturing sector is experimenting continuously. If you have any great business ideas, this is the right time to start your own manufacturing company!

 

The American Manufacturing Industry Is Getting Greener Every Day!

 

With the need for being greener and more environmentally friendly, the manufacturing industry is innovating towards lowering its emissions. It is today one of the most energy-efficient industries in the States using 2,269 trillion BTUs of renewable energy.

 

This is also a great incentive for anybody willing to buy sustainably made products and the industry is attracting more clients every day.

 

Many firms are today revisiting their manufacturing processes to make them more efficient and sustainable. Workers are encouraged to reduce waste, energy usage, pollution, and emissions. Courses in green manufacturing and training are now available, to lower the impact caused by large industries.

 

Introducing greener production processes and systems does benefit the natural environment and employees’ job satisfaction. However, these policies have been proven efficient to also increase productivity and lower costly wastage. If you want to do good to both yourself and the planet, manufacturing in America is for you!

 

Pros of Working for A Manufacturing Firm

As we have seen, there is no lack of job positions in the American manufacturing industry! There are opportunities for anybody with any skill set. And as the industry is growing, there is more need for professionals in the field!

 

The benefits of starting a career in a manufacturing firm are many, but the main ones are the ones that will lead to long term satisfaction. Remember that this industry is among the more likely ones to cover your health insurance and benefits. Moreover, with $27 per hour, it offers competitive salaries even for entry-level positions. 

 

Manufacturing offers highly rewarding career paths and the opportunity to work for environmentally friendly workspaces. Keep in mind that small firms will also allow you to work within an efficient team from which you can learn a lot!

 

Pros of Having Your Own Manufacturing Firm

After the Great Recession, manufacturing firms have been expanding and growing successfully. The market is still on the rise and it is now the best moment to secure your own space in this field. There are incredible opportunities for any business idea to be profitable.

 

Looking at future trends, technology is definitely the sector to jump into, but there are hundreds of other start-ups out there. Therefore, if you are searching for a community of professionals that have succeeded in their plans, they are not difficult to find.

 

If you think you are in need of extra training and courses to create a sustainable business, they can be found easily over the internet. Keep watching current and future trends to know where it’s best to invest. Keep in mind these few tips and you will have your own firm in no time!

 

Conclusion

 

Manufacturing has been a successful industry for a long time, but it is also growing further today. These important facts about manufacturing in America will help anybody start a career in it easily.

 

Are you already working in the field? Do you find your job rewarding? Do you have suggestions for the manufacturing professionals out there?

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Article written by

Linda Martin

I'm Linda Martin. I lead the Vivipins team in the custom bags department. Together, we specialize in creating masterpieces that tell your brand or fashion uniqueness, and in the most personalized manner possible. As diverse as bag styles can be, so are we at Vivipins when it comes to giving you that one type of bag you desire so badly. Material, style, and quality do not limit us. We are the bag industry specialist delivering to each of our customers the exceptional bag thrill they are looking for.

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