The American manufacturing industry has seen its fair share of ups and downs in recent months. More recently, analysts have found the market to be in a decline, with manufacturers reporting lower-than-expected numbers. However, a new report published by the New York Times suggests that small-to-mid-sized factories will stimulate the manufacturing industry while bridging the gap between the U.S. class divide in the process.
The report, which profiled a small manufacturing factory based in Baltimore, offers a promising look towards the future. Marlin Steel, the Baltimore-based factory, produces metal baskets for some of the country’s larger manufacturing companies, including both Ford and Boeing. It highlights some of the company’s employees, including James Branch a high school dropout who finished a 2-year metalwork schooling class to find employment as a machine operator for the Marlin Steel.
Of course, Branch is just one of many similar stories about how American workers found employment in the manufacturing industry. According to the National American Manufacturing (NAM), there are more than 12 million American workers employed in the manufacturing industry. To put that number into perspective, that’s roughly 9% of the entire U.S. workforce, which is pretty impressive to say the least. NAM goes on to reveal that manufacturing supports about one in six private-sector American jobs. Statistics such as this reveal the importance and significance of American manufacturing in keeping out country running.
The New York Times report found that the majority of the country’s quarter-of-a-million manufacturing companies are small businesses with fewer than 20 employees. When you think of manufacturing facilities, you usually assume they are big. But it’s become increasingly commonplace for small and mid-sized manufacturing facilities to enter this industry.
As explained in the report, blue-collar workers in the Rust Belt have experienced the biggest losses from manufacturing decline in recent months. This trend, however, has also affected the presidential race.
While some market analysts are skeptical of when exactly the manufacturing industry will rebound, the general consensus is that it will rebound. As the saying goes, what goes up must come down — and vise-versa. So while the American manufacturing industry may be in a decline — at least for the time being — there’s only way direction that it can go. In the meantime, you can check back with our blog here at Ask Monroe for all of the latest news and updates on American manufacturing.
Do you think the American manufacturing industry is on the right track?
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