AEM: Equipment manufacturing supported 1.3 million jobs in 2016
New report shows equipment manufacturers generated more than $416 billion in sales activity in 2016.
The equipment manufacturing industry supported almost 1.3 million jobs in the United States in 2016, according to a new report released last week by AEM.
The report, which was produced by the leading economic research firm IHS Markit, found that equipment manufacturers added $159 billion to the Gross Domestic Product (GDP) of the United States last year.
The report came as major segments of the equipment manufacturing industry met at CONEXPO-CON/AGG in Las Vegas, and as national elected leaders place a renewed emphasis on manufacturing jobs and infrastructure investment.
The research project offers the best snapshot of the equipment manufacturing industry’s reach in several years.
The report found that equipment manufacturers in the United States supported over $416 billion in sales activity in 2016, generated about $87 billion in labor income (amounting to about $78,000 in wages per equipment manufacturing industry job), and contributed over $25 billion in local, state and federal taxes.
Texas leads the country in equipment manufacturing employment and output, the report found, followed by Illinois, Wisconsin, Ohio and Iowa.
The research also examined the equipment manufacturing industry’s impact in Canada. Equipment manufacturers in Canada supported some 149,000 jobs last year, and generated some $15 billion (USD) for the Canadian economy in 2015.
Click here to download the full report.