What is it?
Manufacturing is the production of goods or services using machinery, tools, and raw materials. It is the primary source of employment and income for workers in the sector. Manufacturing businesses often operate on a large scale with a lot of machinery and equipment. They produce various goods and services, such as automobiles, electronics, food, and clothing.
According to the U.S. Bureau of Labor Statistics, manufacturing jobs comprise over 8% of the total U.S. nonfarming workforce. In addition, there were over 12 million manufacturing jobs in the United States in 2021. Manufacturing makes up more than a 10th of the Gross Domestic Product (GDP) alone.
Why is it important?
Manufacturing is a vital industry for the United States. It employs a large portion of the country’s workforce, generates a large amount of the country’s GDP, and produces a wide variety of goods and services necessary for the government to function. Most importantly, manufacturing provides good jobs with decent wages and benefits for hardworking Americans.
Over the past few decades, the United States has lost many manufacturing jobs. Today, the United States has fewer manufacturing jobs than it did in 1950 when the sector was at its peak. There has been a push, however, for things to change. Companies like EEI Manufacturing and the National Association of Manufacturers continue to work with the government and the private sector to help keep manufacturing jobs in the United States.
Time will tell if they are successful.