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Between 2000 and 2010, US manufacturing experienced a nightmare. The number of manufacturing jobs in the United States, which had been relatively stable at 17 million since 1965, declined by one third in that decade, falling by 5.8 million to below 12 million in 2010 (returning to just 12.3 million in 2016).
Evolution of Manufacturing Employment It was still at 32 percent in 1955 but steadily declined to 8 percent by 2019 (the data after 2019 are skewed by the pandemic).
Manufacturers in the United States account for 11.39% of the total output in the economy, employing 8.51% of the workforce. Total output from manufacturing was $2,334.60 billion in 2018.
Lack of sustained investment, noncompetitive labor rates and degrading infrastructure opened the door for low-cost countries, notably China, to take the lead as manufacturers shifted production overseas. The end result was an industrial sector that leaked jobs, fell behind in technology and lost investor support.
One of the reasons companies manufacture their products in China is because of the abundance of lower-wage workers available in the country. … China has been accused of artificially depressing the value of its currency in order to keep the price of its goods lower than those produced by U.S. competitors.
| Rank | Industry | Percent Change |
|---|---|---|
| 1 | Business schools and computer and management training; local | -54% |
| 2 | Junior colleges; private | -46% |
| 3 | Apparel Manufacturing | -43% |
The Institute for Supply Management reported Monday that its gauge of manufacturing activity rose to a reading of 60.8% last month, 2.1 percentage-points above the January level of 58.7%. It was the strongest performance since February 2018. Any reading above 50 indicates expansion in the manufacturing sector.
What Percentage of the U.S. Economy is Manufacturing? 11.39% of the U.S. economy is manufacturing.
- Global Iron Ore Mining. 2021-2022 Revenue Growth: 43.3% …
- Global Airport Operation. …
- Global Travel Agency Services. …
- Global Airlines. …
- Global Heavy-Duty Truck Manufacturing. …
- Global Deep-Sea, Coastal & Inland Water Transportation. …
- Global Tourism. …
- Global Coal Mining.
Despite what surveys done in China suggest, the shift away of manufacturing is quite dramatic, and, in another five years, the manufacturing map of the world will look very different from what it does today. Surveys done by UBS globally suggest that 20-30% of manufacturing will be leaving China.
In fact, research firm Gartner revealed last year that a third of supply chain leaders had plans to move at least some of their manufacturing out of China before 2023. Coronavirus-related sales slumps and supply chain disruption, as well as rising production costs, have also hastened the exodus.
The most common reason for outsource manufacturing is the reduction of cost. American companies outsource manufacturing to China to have their goods assembled, or completely built overseas, at incredibly low costs. … Hence, many people consider cutting costs by outsourcing their production to countries like China.
- Public Administration. Public-sector jobs often have a reputation for being secure ones, and with good reason. …
- Manufacturing. Indicators of the manufacturing sector’s health have stabilized in recent years, and the sector shows it. …
- Transportation and Warehousing. …
- Wholesale Trade. …
- Finance and Insurance.
Complete civilian aircraft, including aerospace engines, propulsion units, auxiliary equipment, and components, are produced by the Global Commercial Aircraft Manufacturing sector which is the fastest growing industry in the world.
- Stein Mart. Business type: Department store. …
- Vine. Business type: Social media. …
- Lord & Taylor. Business type: Department store. …
- Henri Bendel. Business type: Luxury retail. …
- Pier 1 Imports. Business type: Furniture. …
- Borders. …
- The Weinstein Company. …
- Toys ‘R’ Us.
The northeastern United States, excluding northern New England, is the country’s single most significant region of manufacturing. This region is loosely defined on three sides by the Ohio River Valley, Megalopolis, and the southern Great Lakes.
Manufacturing in the US doesn’t just save money through lower logistics costs but it also saves you time in the production process. When goods have less distance to travel to get to their distributor or intended retailer, they can be delivered more quickly to your customer.
- China – 28.7% Global Manufacturing Output. …
- United States – 16.8% Global Manufacturing Output. …
- Japan – 7.5% Global Manufacturing Output. …
- Germany – 5.3% Global Manufacturing Output. …
- India – 3.1% Global Manufacturing Output. …
- South Korea – 3% Global Manufacturing Output. …
- Italy – 2.1% Global Manufacturing Output.
- Refined and Crude Petroleum: Both Imported And Exported. …
- Soybeans: Runner-Up To China. …
- Cotton: Over Double India’s Exports. …
- Corn: Most Exported From The US. …
- Wheat: Another Leading Exported Commodity. …
- Oil: Heavily Imported Despite Production. …
- Natural Gas: Self-Sufficient Energy In The US.
According to data published by the United Nations Statistics Division, China accounted for 28.7 percent of global manufacturing output in 2019. That puts the country more than 10 percentage points ahead of the United States, which used to have the world’s largest manufacturing sector until China overtook it in 2010.
Already in 1940 the U.S. became a so called “service economy” meaning that more than half of its work force is employed in producing intangibles. … According to recent statistics (2002) it nowadays accounts for 78% of the U.S. non-agricultural employment and 76% of the U.S. private sector Gross Domestic Product (GDP).
Going into 2022, among the key market sectors to watch are oil, gold, autos, services, and housing. Other key areas of concern include tapering, interest rates, inflation, payment for order flow (PFOF), and antitrust.
– Pharmaceuticals: With the events of last year, healthcare and pharma have become a key area of focus all over the world. Additionally, with vaccination development and drives in full swing, this year will see suppliers becoming major contributors in this sector.
Housing finance companies India is a growing country (in fact the fastest growing country in the world). And housing finances companies or NBFC (Non-banking finance companies) are going to play a crucial role in the growth story of India. This is easily one of the best sectors for long-term investment in India.
Investors are pulling their dollars out of China—en masse. More than $1 trillion worth of Chinese equities have been sold in the past 12 months amid the country’s clampdown on Big Tech, U.S.-listed corporate giants, and after-school tutoring companies, according to new UBS research.
China is rapidly moving up the manufacturing value-chain, producing more sophisticated goods, and creating a skilled and higher-paid workforce in the process.
China’s supply chains have taken hits from COVID-19, power outages, a shortage of shipping containers, and a sudden surge in consumer demand. … China’s factories made a comeback in 2020 after the country was shut down due to the COVID-19 outbreak, but manufacturing activity has since declined throughout 2021.
Foreign technology firms have been pulling out or downsizing their operations in mainland China as a strict data privacy law specifying how companies collect and store data takes effect. Such companies have decided the regulatory uncertainty and reputational risks outweigh the advantages of staying in the huge market.
In recent years, India has significantly stepped up efforts to attract manufacturing investments into the country. Prime Minister Narendra Modi’s “Made in India” initiative is designed to help the country replace China as a global manufacturing hub.
- AMC. Popular cinema company AMC, short for American Multi-Cinema, has been around for over a century and is headquartered in Leawood, KS. …
- General Motors. …
- Spotify. …
- Snapchat. …
- Hilton Hotels. …
- General Electric Appliance Division. …
- 48 Comments.
U.S. goods imports from China totaled $539.5 billion in 2018, up 6.7% ($34.0 billion) from 2017, and up 59.7% from 2008. U.S. imports from are up 427% from 2001 (pre-WTO accession). U.S. imports from China account for 21.2% of overall U.S. imports in 2018.
“Fifty percent [of U.S. companies] are producing goods and services that are sold here in China – the majority is in China, for China. That means we shouldn’t be surprised by the relative stability,” said Lehman.
Some of the fastest projected growth will occur in the healthcare, healthcare support, construction, and personal care fields. Together, these four occupational groups are expected to account for more than 5.3 million new jobs by 2022, about one-third of the total employment growth.
- Textile Industry. Fashion trends may come and go, but people will continue to need clothes. …
- Legal and Compliance Industry. …
- Energy Utilities Industry. …
- Water Industry. …
- Healthcare Industry. …
- Technology Industry.
- Physician Assistant. Median Salary: $112,260. …
- Software Developer. …
- Nurse Practitioner. …
- Physician. …
- Speech-Language Pathologist. …
- Veterinarian. …
- IT Manager. …
- Physical Therapy Assistant.