BERT MAES

The Future of CNC Manufacturing Education – CNC Manufacturing, Education Reform & Change Management News.

Statistics: Future Growth Lies with Manufacturing

Posted by Bert Maes on December 16, 2009


http://pmpaspeakingofprecision.com/

Manufacturing is the country’s productivity powerhouse: a strong and vibrant manufacturing sector is a critical component in our country’s long-term economic future.

Federal Reserve Chairman Ben Bernanke has said that

productivity growth is “perhaps the single most important determinant of average living standards.”

  • 1987 thru 2005, manufacturing productivity grew by 94%, roughly 2 1/2 times faster than the 38% increase in productivity in the rest of the business sector.
With productivity comes higher wages.
  • Manufacturing jobs pay 23% more than the rest of the workforce.
  • Every $1.00 of manufacturing sales supports $1.37 in other sectors.  Educational, health care, and social services support $.70.
  • Every manufacturing job supports as many as 4 other jobs.

We’ve been reducing CO2 as a matter of good business.

  • Manufacturing CO2 emissions have dropped by 6% compared to a 38% increase in other sectors.

Reducing energy needed to produce as well.

  • Energy requirements per $1.00 of GDP have dropped by almost 50% in the last 30 years.  Half of the reduction is attributed to increases in energy efficiencies of industrial manufacturing.

Who will pick up the jobs if manufacturing continues to decline?

  • Manufacturing has declined from 25% in the 1950s to 12% of the GDP in 2005.
  • The U.S. has lost over 5 million manufacturing jobs since 2000.
  • Individual net worth has declined by 25% since 1999.
  • 2/3rds of private sector R&D in the United States is done by manufacturer.
  • More than 1 in 6 U.S. private sector jobs depends on the manufacturing base.
  • Future Growth Lies with Manufacturing

2 Responses to “Statistics: Future Growth Lies with Manufacturing”

  1. […] career positions.  The kind you can raise a family on and do very well with. Related posts: (1) Manufacturing jobs pay 23% more than the rest of the workforce // (2)  It is a persistent myth that manufacturing jobs are low-paid […]

  2. […] workers earn between 23% and 30% more than the average wage for the private sector […]

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