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Did You Know? Manufacturing's Fast Facts


Skills Gap in USA

  • Nearly 3.5 million manufacturing jobs need to be filled and the skills gap is expected to result in 2 million of those jobs going unfilled
  • An estimated 2.7 million jobs will be left by the baby-boomers while 700,000 additional jobs will be created due to natural business growth.

 

    Mfg Salary

  • 80% of executives are willing to pay more than the market rates in workforce areas that are suffering from the skills gap
  • 82% of executives indicate they believe the skills gap will negatively impact their ability to meet customer demands and 48% believe it will impact their ability to expand internationally.

 

  • For every $1.00 invested in manufacturing another $1.37 in additional value in created in other sectors, the highest multiplier effect of any economic sector.
  • Manufacturers in the United States are the most productive in the world, far surpassing the worker productivity of any other major manufacturing economy, leading to higher wages and living standards.

  • Manufacturers in the United States perform two-thirds of all private-sector R&D in the nation, driving more innovation than any other sector.

  • Taken alone, manufacturing in the United States would be the 8th largest economy in the world.

 


  • 89% of parents estimate the average hourly wage of manufacturing jobs is between $7 and $22 per hour. But the average is actually much higher, at $34 per hour, according to the Manufacturing Institute. (read more here at usnews.com)

  • Manufacturing supports an estimated 17.6 million jobs in the United States - about one in six private-sector jobs.

  • More than 12 million Americans (or 9 percent of the workforce) are employed directly in manufacturing.

Sources: National Institute of Manufacturing - NAM.org (click to view source list)

 
 

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