The National Association of Manufacturers has just issued its seventh edition of The Facts About Modern Manufacturing . It's a reference book about the value of manufacturing the the US economy.
As such, it counters the notion that we are a post-industrial economy, pointing out that if manufacturing would be considered by itself, it would be the eighth largest economy in the world.
Some key facts:
Manufacturing makes the highest contribution to economic growth of any sector, being responsible for more than 70% of private sector research and development.
Manufacturing achieves a high productivity rate year in and year out, increasing by more than 50 % in the past decade.
Manufacturing contributes more than 60% of U.S. exports or about $50 billion a month.
Manufacturers pay wages and benefits that are about 25% higher than in non-manufacturing jobs.
More than other sectors, each dollar spent by manufacturing generates an additional $1.37 in economic activity.
The report also documents policy changes NAM believes necessary to ensure future growth of manufacturing, including:
An educated and productive workforce. Eighty-one percent of respondents in NAM's 2005 Skills Gap survey said they could not find qualified workers to fill open positions.
High built-in costs. Structural costs such as taxes and health care add 31.7% to U.S. manufacturing costs, making it more difficult to produce from a U.S. base.
There's lots more.
The latest USGS figures for 2006 are in and for the first time, the production and salt in China (48 million MT) has exceeded production in the US (46 million MT). As is readily apparent from the figures published on the Salt Institute World Salt Production Webpage , China has shown largest growth during the last 15 years, doubling its output from 24 - 48 million metric tons. Very significant production gains have also been experienced in India and Australia. Where will the next decade take us?
