Manufacturing is one of the country’s most important sectors. It’s responsible for producing goods that we consume and sell to other countries while creating jobs and stimulating the economy in the process. Today, we’re going to take a closer look at some of the benefits of working in the American manufacturing industry, revealing why so many people are eager to find employment in this vital sector of the nation’s economy.
It’s Huge
For starters, the American manufacturing industry is big — very big. As of March 2017, it employs more than 12.4 million workers. According to the Bureau of Labor Statistics (BLS), it’s one of the country’s largest sectors by employment. This isn’t a trend that’s expected to fade anytime soon, either. With the country’s manufacturing industry growing, we’ll likely see even higher employment numbers in the years to come.
There’s a Renewed Focus on American Manufacturing
Ever since President Trump took office in January 2017, there’s been a renewed focus on strengthening and expanding our country’s manufacturing industry. In April 2017, Trump signs the Buy American and Hire American Executive Order. Among other things, this order is intended to create higher wages and employment rates for U.S. workers, particularly those in the manufacturing industry. Furthermore, Trump has formed a council with some of the industry’s brightest minds to promote and improve this sector.
Tax Benefits
The new tax plan unveiled by Trump could yield huge benefits for workers in the manufacturing industry. According to the Washington Times, two-thirds of manufacturers believe the new tax plan would expand their business. A separate survey conducted by the National Association of Manufacturers (NAM) found that 64% of manufacturing employers would expand and 57% would hire more workers under this new tax plan. What does this mean for the average worker? It means his or her wages would likely go up. The same NAM survey found that 52% of employers believe worker wages will rise under the new tax plan.
US to Surpass China as Global Manufacturing Leader
In 2010, China surpassed the United States to become the world’s leading manufacturing country. However, that may soon change, as analysts believe the United States is poised to reclaim this title. According to a study conducted by Deloitte Global and the U.S. Council on Competitiveness, the United States will become the world’s leading manufacturing country by 2020.
Of course, these are just a few benefits of working in the American manufacturing industry. Perhaps the greatest benefit is the simple fact that it’s a time-tested sector that’s been around for over a century.