American-Made Products: By the Numbers
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At the height of American manufacturing in the 1970s and 1980s, most goods purchased by U.S. consumers were manufactured domestically. Today, many goods located on store shelves are produced overseas. These products tend to be more affordable than their American-made alternatives, which makes them accessible, especially during times of high inflation and economic volatility.
However, a recent survey shows 72% of consumers seek out American-made goods either “somewhat often” or “very often," and 48% are willing to pay as much as 20% more for domestically made products.
As many American companies reshore their operations, the production of U.S.-made goods and job opportunities are rising. Below, we provide insight into American-made products, the U.S. workforce by the numbers, and the current state of the manufacturing sector.
The Number of Small Businesses in the U.S.
As of 2022, the United States has roughly 33.2 million small businesses, which translates to 99.9% of all businesses in the U.S. Of the more than 33 million small businesses in the U.S., approximately 27 million don’t have any employees.
The Number of Workers in the U.S.
According to Statista, there are approximately 132 million full-time employees in the U.S. as of March 2023. This represents a slight increase compared to February of the same year.
Despite having a large and steadily growing workforce, the U.S. manufacturing space has yet to find the talent needed to fill critical vacancies. According to the National Association of Manufacturers, 2.1 million manufacturing vacancies could be unfilled by 2030. These vacancies could lead to over $1 trillion in losses.
The Number of Woman-Owned U.S. Suppliers on Thomasnet.com®
Thomasnet’s supplier database includes hundreds of women-owned businesses. Using our diverse directory, businesses can connect with reputable domestic suppliers and support passionate female business owners operating within the manufacturing space.
Women-owned businesses are making a tremendous impact on the manufacturing sector and the U.S. economy as a whole. Female-owned businesses now comprise 42% of all businesses, generating approximately $1.9 trillion in annual revenue.
Additionally, women-owned businesses employ 9.4 million workers, and over 800 new women-owned businesses open every day.
The Number of Trade Schools in the U.S.
Trade schools are the backbone of many manufacturing sectors, as these institutions teach students sought-after skills like welding, machining, and 3D printing. While it’s difficult to quantify the number of trade schools in the U.S. because no unifying body registers them, according to IBISWorld, there are over 7,000 “trade and technical school businesses.” It’s also common for high schools to incorporate trade programs into their curriculum.
Additionally, there are currently 116,800 trade and technical school employees in the U.S. Since 2018, this number has risen by 1.5% on average.
The Number of Industrial Holidays Celebrated in the U.S.
Generally speaking, there are six holidays that most industrial manufacturers recognize. These holidays include Christmas, Thanksgiving Day, Labor Day, Independence Day, Memorial Day, and New Year's Day. 96% of all U.S. companies observe these holidays.
We recently compiled the ultimate list of industrial holidays for manufacturers.
The Number of Workers U.S. Manufacturers Employ
The manufacturing industry employs approximately 8% of all U.S. workers. This translates to about 10.56 million people. The sector represents 11% of the United State's gross domestic product.
The Future of American-Made Products
The manufacturing industry is strong, diverse, and growing. A commitment toward sustainability, efficiency, and product quality will mark the resurgence of American-made production.
While it's still being determined what the future holds for the American manufacturing industry, the sector will surely thrive as demand for U.S.-made goods continues to increase.
