Thanksgiving is one of my favorite holidays. There is always copious amounts of food, and I get to see my family, my childhood pets, and enjoy the comfort of a long weekend filled with family traditions. One Thanksgiving family tradition of mine that I would like to share—with a manufacturing spin—is the ‘I’m thankful’s.’ Every year before we sit down to eat, each family member has to describe something that they are especially thankful for this year.
So for the sake of holiday spirit and sharing this family tradition of mine, as well as to show that the manufacturing sector is something to be truly thankful for I have created this list. The manufacturing sector too often seems to get negative attention from the media, whether that be as a results of recalls, outsourcing, job cuts, or offshoring. But, in spite of this there remain many reasons to be thankful for manufacturing, and here are a few of those reasons:
- In 2013, manufacturers contributed $2.08 trillion dollars to the economy.
- According to the Bureau of Economic Analysis, for every $1.00 spent in manufacturing, another $1.32 was returned to the economy.
- The manufacturing sector is responsible for approximately 17.4 million jobs.
- Since 2010, United States manufacturing has been growing at the fastest pace since the 1990’s.
- Manufacturers support almost two-thirds of private-sector research and development, making them one of the most innovative sectors in the country.
- Manufacturing companies are responsible for almost half of the United States exports.
- U.S. manufacturing brings foreign investors into the United States economy, which helps drive growth.
- Employees of manufacturing enterprises average compensation is 19 percent greater than employees in other industries.
- The manufacturing sector is the leader, among private sector employers, in regards to the amount of health benefits offered to workers.
- The U.S. manufacturing sector is so successful that if it were ranked as its own economy, it would be considered the tenth-largest economy in the world.
This list could go on, but for the sake of brevity and to not keep anyone away from their family and some mashed potatoes this holiday season, I will stop at 10.
But just because I have stopped after 10 doesn’t mean you have to, please comment below on some reasons that you are thankful for the manufacturing sector this year.
