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Things To Know About America’s Manufacturing Industry
Manufacturing is one type of industry that needs to exist in every single country in this world. Well, there’s no denying the fact that all physical things we use to make our lives more convenient has to be manufactured somewhere, right? Literally all the things we use and abuse are all because of the industry of manufacturing, including computers, phones, paper, clothes, among others. In turn, this industry is benefitting a lot from technology and constant flow of innovation.
With regards to being the biggest and most important manufacturing industry in the world, there is very little doubt that the U.S. owns this distinction. Perhaps the more interesting fact is that this country’s manufacturing industry is so huge that it always has an effect to the manufacturing industries of the rest of the world.
Anyway, let’s see some more interesting facts about this important sector of America’s economy.
1 – You definitely should give manufacturing a tap on the back as it accounts for roughly 12% of this country’s gross domestic product. Taking this into consideration, one can pretty much assume that U.S. manufacturing is an indispensable element of economic productivity.
2 – As of late, about 10% of the U.S. workforce find themselves working under the umbrella of the manufacturing sector. To put it in simple terms, millions of Americans work in factories and plants to earn a living.
3 – A very interesting thought is that if this sector was to be made a separate economy, it would be the eight largest in the world if the basis is gross domestic product.
4 – Whenever a new manufacturing job is opened, it corresponds to the opening of new opportunities as well to the local service businesses associated or linked to that new facility. There’s this kind of effect in a sector that highly demands labor.
5 – Quite surprisingly, an active sector like manufacturing actually leads all other economic sectors in terms of its commitment to the use of renewable energy. Well in fact, it uses more renewable energy, as measured in BTUs than the residential, commercial, and transportation sectors all in all.
6 – Aside from the commitment to the use of sustainable energy sources, manufacturing is also a big contributor in both research and development. The primary and most obvious reason why manufacturing invests a lot in research and development is because it sees itself as a consistently evolving sector that needs to keep up with the modern times.
Upon learning all those interesting facts above, there now is very little argument in the premise that it is poised to become the biggest and most important sector in the U.S. economy in the immediate future.
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