#174 – Inside Our Industry – NAM Facts

NAM Facts

The National Association of Manufacturers reported the following Key Facts about manufacturing in the United States:

• $2.9 trillion of value added to the economy comprising 10% of U.S. GDP
• 13 million people employed by over 244,000 U.S. manufacturers
• 616,000 job openings in manufacturing as of July 2023
• $98,846 – average annual earnings for manufacturing employees
• 74% of manufacturing firms have fewer than 20 employees
• 4 million new manufacturing position expected by 2030
• 91% of manufacturing employees were eligible for health insurance benefits in 2022
• 55% – manufacturing’s share of all private sector R&D in the U.S.
• $29,100 – per employee cost of federal regulations for manufacturers
• $1.6 trillion of U.S.-manufactured goods were exported in 2022

The top 12 states in terms of manufacturing % of workforce:

1. Indiana – 19.1%
2. Wisconsin – 18.7%
3. Iowa – 16.7%
4. Michigan – 15.9%
5. Alabama – 15.8%
6. Mississippi – 15.5%
7. Arkansas – 14.9%
8. Kentucky – 14.8%
9. Ohio – 14.2%
10. Kansas – 14.1%
11. Tennessee – 12.9%
12. South Carolina – 12.4%

Source: www.nam.org