During election years, people like to throw statistics around in order to further their discussion points and agendas. Manufacturing happens to be an industry that gets discussed quite often during election years but, unfortunately, the statistics are not always correct. Here are 8 facts about manufacturing that may surprise you.
- For every $1.00 spent in manufacturing in the United States, another $1.40 is added to the US economy. Which makes manufacturing the highest multiplier effect of any economic sector.
- The bulk of manufacturing companies in America are actually quite small. In the most recent data, there were 256,363 firms in the manufacturing sector, with all but 1.4% of them consisting of fewer than 500 employees.
- There are currently 12.33 million manufacturing workers in the United States, accounting for nearly 9% of the American workforce.
Our team members understand that working together towards our goals is the only way we will succeed. At Chips, we invest in our people because without them, we won’t grow.
- The manufacturing industry supports an estimated 18.5 million jobs in the United States—approximately one out of every six private-sector positions.
- Manufacturers have one of the highest percentages of workers who are eligible for health benefits provided by their employer with 92 percent of manufacturing employees eligible for health insurance benefits in 2015.
At Chips, we pride ourselves of having one of the most comprehensive benefits packages for a cnc company of our size.
- Over the next decade, nearly 3.5 million manufacturing jobs will likely be required, and 2 million are expected to go unfilled due to lack of proper education.
- 80% of manufacturers report a moderate or severe shortage of qualified applicants for skilled and highly skilled production positions.
Chips Manufacturing takes a special interest in the growth, development and advancement of our employees at every stage of their careers.
- Manufacturers in the United States account for more than three-quarters of all private-sector research and development (R&D) in the nation, driving greater innovation than any other sector.