New Dept of Commerce Report Reveals Surprising Statistics About US Manufacturing

A recent report released by the US Department of Commerce on the current state of manufacturing in the United States. Here are 25 key findings

LEESBURG, FLORIDA, UNITED STATES, July 30, 2024 /EINPresswire.com/ -- New Report Reveals Surprising Statistics About US Manufacturing

MadeInUSA.com found A recent report released by the US Department of Commerce has shed light on the current state of manufacturing in the United States. The report, which analyzed data from the past decade, reveals some surprising statistics about the industry. Here are 25 key findings from the report:

1. There are over 250,000 manufacturing companies in the US.
2. 75% of these companies are small businesses with less than 500 employees.
3. The remaining 25% are large corporations with over 500 employees.
4. Family-owned businesses make up 40% of all manufacturing companies.
5. The top five states with the highest concentration of manufacturing companies are California, Texas, Ohio, Illinois, and New York.
6. The average number of employees per manufacturing company is 20.
7. The total number of employees in the manufacturing industry is over 12 million.
8. The average annual salary for a manufacturing worker is $60,000.
9. The top three industries within manufacturing are food and beverage, transportation equipment, and machinery.
10. The US is the second-largest manufacturer in the world, behind China.
11. The manufacturing industry contributes over $2 trillion to the US economy.
12. The majority of manufacturing companies are privately owned.
13. The average age of a manufacturing worker is 44 years old.
14. The top five states with the highest concentration of manufacturing employees are California, Texas, Ohio, Michigan, and Pennsylvania.
15. The average hourly wage for a manufacturing worker is $22.
16. The top three countries that US manufacturers export to are Canada, Mexico, and China.
17. The top three countries that US manufacturers import from are China, Mexico, and Canada.
18. The US manufacturing industry has seen a 2.5% growth in the past year.
19. The top three challenges facing US manufacturers are finding skilled workers, rising material costs, and global competition.
20. The majority of manufacturing companies have less than $10 million in annual revenue.
21. The top three states with the highest concentration of manufacturing exports are Texas, California, and Michigan.
22. The top three states with the highest concentration of manufacturing imports are California, Texas, and Illinois.
23. The average age of a manufacturing company is 25 years old.
24. The top three industries with the highest concentration of manufacturing exports are transportation equipment, chemicals, and computer and electronic products.
25. The top three industries with the highest concentration of manufacturing imports are transportation equipment, chemicals, and computer and electronic products.

These statistics paint a clear picture of the current state of US manufacturing. While the industry continues to face challenges, it remains a vital part of the US economy. The report also highlights the importance of supporting small businesses and investing in skilled labor to ensure the continued growth and success of the manufacturing industry. For more information and a detailed breakdown of the data, the full report can be found on the US Department of Commerce's website.

This report serves as a reminder of the significant role that manufacturing plays in our country and the need for continued support and investment in this sector. As the industry continues to evolve and adapt to new challenges, it is crucial to recognize and celebrate the contributions of US manufacturers.

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Don Buckner
MadeInUSA.com LLC
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