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KSM Blog | Katz, Sapper & Miller CPA

Manufacturing: The Facts

Posted 2:30 PM by

The National Association of Manufacturing recently released some interesting facts about the U.S Manufacturing industry.

  • The United States is the world's largest manufacturing economy, producing 21 percent of global manufactured products. China is second at 15 percent and Japan is third at 12 percent.1
  • U.S. manufacturing produces $1.6 trillion of value each year, or 11.2 percent of U.S. GDP.2
  • Manufacturing supports an estimated 18.6 million jobs in the U.S.—about one in six private sector jobs.3 Nearly 12 million Americans (or 9 percent of the workforce) are employed directly in manufacturing.4
  • In 2009, the average U.S. manufacturing worker earned $74,447 annually, including pay and benefits. The average non-manufacturing worker earned $63,122 annually.5
  • U.S. manufacturers are the most productive workers in the world—twice as productive as workers in the next 10 leading manufacturing economies.
  • U.S. manufacturers perform two-thirds of all R&D in the nation, driving more innovation than any other sector.6
  • Taken alone, U.S. Manufacturing would be the 9th largest economy in the world. 7

For more details, read the full report, The Facts About Modern Manufacturing.

1 United Nations, Statistics Division (2009).
2 U.S. Bureau of Economic Analysis, Industry Economic Accounts (2009).
3 The Facts About Modern Manufacturing(2009).
4 U.S. Bureau of Labor Statistics.
5 U.S. Bureau of Economic Analysis, Compensation of Employees by Industry and Full-Time Equivalent Employees by Industry.
6 National Science Foundation (2008).
7 U.S. Bureau of Economic Analysis, Industry Economic Accounts (2009) and International Monetary Fund (2009).

About the Author
Justin Hayes is a manager in Katz, Sapper & Miller’s Audit and Assurance Services Department. Justin audits and reviews financial statement audits, and he advises clients in accounting, reporting, compliance, and internal control matters. Connect with him on LinkedIn.

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