National Manufacturing Month
In this October issue, we celebrate National Manufacturing Month! The backbone industry of the U.S. remains strong, growing and ripe with new, exciting career opportunities.
Small Manufacturing Businesses Lead the Way
The vast majority of manufacturing firms in the United States are very small. I n 2015, 98% of the 251,774 manufacturing firms were considered to be small (i.e., having fewer than 500 employees). And 75% of these firms have fewer than 20 employees.(Source: U.S. Census Bureau, Statistics of U.S. Businesses)Hoffer Plastics leads the way as an exemplary, small U.S. manufacturer. They offer:
- A wide range of manufacturing jobs, career pathing and training – from entry level to executive management
- A focused entrée and internship program for local high school and college students
- A superior salary and benefits package that includes tuition reimbursement, job sharing, remote support and flexible work schedules
- A third generation family owned and operated company with a values based culture
- A recognized leader in environmental sustainability with the potential to reinvent the plastics industry
A Significant Role in the U.S. Economy
The manufacturing industry:
- Contributes over $2.3 trillion to the U.S. economy
- Produces $1.89 in business growth for every $1 dollar spent
- Has over 12 million jobs employing 8.5% of the U.S. workforce, at an average salary of over $84,000 annually, inclusive of benefits.
- And speaking of benefits: 92% of manufacturing workers are eligible for employer paid benefits, and over 80% participate
A Positive Outlook Despite a Shifting World Economy
While U.S. manufacturing is a smaller factor than it once was (due to an increasingly service oriented economy, global trade and other factors), its outlook remains very promising:
- World trade in manufactured goods has more than doubled between 2000 and 2014—from $4.8 trillion to $12.2 trillion
- U. S. Manufactured goods exports have grown substantially to our largest trading partners since 1990, including to Canada, Mexico and even China.
- Reduced employer costs (particularly taxes) will continue to fuel this
- Manufacturers in the United States perform more than three-quarters of all private-sector research and development (R&D) in the nation, driving more innovation than any other sector.
- Over the next decade, nearly 3½ million manufacturing jobs will likely be needed, and 2 million are expected to go unfilled due to the skills gap.
- 80 percent of manufacturers report a moderate or serious shortage of qualified applicants for skilled and highly-skilled production positions. (Source: Deloitte and the Manufacturing Institute)