The newsLINK Group - High-Paying Manufacturing Jobs

Editorial Library Category: Manufacturing Topics: Manufacturing Jobs Title: High-Paying Manufacturing Jobs Author: newsLINK Staff Synopsis: The future of business in the U.S. is going to depend on two things: adjusting to the reality of a weaker U.S. dollar, and understanding that a weak dollar means that this country needs to create (and export) more goods in order to prosper. Editorial: High-Paying Manufacturing Jobs 4064 South Highland Drive, Millcreek, Utah 84124 │ thenewslinkgroup.com │ (v) 801.676.9722 │ (tf) 855.747.4003 │ (f) 801.742.5803 Editorial Library | © The newsLINK Group LLC 1 The future of business in the U.S. is going to depend on two things: adjusting to the reality of a weaker U.S. dollar, and understanding that a weak dollar means that this country needs to create (and export) more goods in order to prosper. For a long time, you could go to another country and get more for your money than if you spent the same money at home. Now, the exact opposite is true. In other words, it’s time for the U.S. to rediscover manufacturing. The numbers back this up: For every dollar’s worth of domestically manufactured goods, manufacturers create an additional $1.43 for the economy. Five states generate more than $500 billion to the economy because of manufacturing. Between December 2009 and March 2013, Utah was number 17 on the list of the top 20 states that create manufacturing jobs; it added 9,000 new jobs during that period. The top of the list was dominated by Michigan (88,100 jobs), Texas (57,500 jobs), Indiana (53,400 jobs), Ohio (51,800 jobs) and Wisconsin (38,300). Manufacturers fund two-thirds of the private sector research and development being conducted in the U.S. Manufacturing is a rain maker. According to a report on CNBC that was published June of 2013, the almost 12 million manufacturing jobs in the U.S. support 17.2 million other jobs. According to another expert, one manufacturing job will create 2.91 jobs in other sectors. Seventy percent of the country thinks that the U.S. needs manufacturing in order to stay strong, both economically and for national security. An even higher percentage (77 percent) are afraid of what will happen to the U.S. as domestic manufacturing jobs get outsourced to other countries. That doesn’t mean U.S. manufacturing is going to look the same as it has in the past. The Information Technology & Innovation Foundation (ITIF) released a report in 2012 about the decline in U.S. manufacturing as companies moved their operations to other countries. It turns out that the U.S. lost more manufacturing jobs during the last ten years than it did during the Great Depression; in fact, over the last 12 years, 1276 manufacturing jobs went away every day. And in January 2012, there were more unemployed people than manufacturing employees in the U.S.; 12.8 million were unemployed, and almost 12 million worked in manufacturing. In short, the last ten years have clearly been bad for U.S. manufacturing. But the fact that the U.S. dollar is weak, combined with increased energy costs, has meant a return to domestic manufacturing as companies have decided that it is now cheaper to build some goods here than it is to go to, say, China. The U.S. is focused more on service and information than it was before, and that will undoubtedly continue to be the case. At the same time, however, the manufacturing industry is looking better than it has for a really long time. Many major companies, like GE and Ford, are actually bringing jobs back to the U.S. High-tech manufacturing seems to make particular sense within the U.S. Regionalization protects intellectual capital, for one thing. It is also easier to coordinate efforts close to home than it is to coordinate with people who are thousands of miles away, and there are energy savings as well. In 2010, moderately high-tech and very high-tech manufacturing jobs were often located in the 100 largest U.S. metropolitan areas; the exact numbers were 79 percent for moderately high-tech manufacturing companies, and 95 percent for very high-tech manufacturing companies. People who work for manufacturing companies already know that manufacturing jobs are good jobs. How good? The average annual salary is more than $77,000 per year. That’s not just for the suits; it’s the workers who get things done. More than 90 percent also have insurance benefits. Entry-level manufacturing engineers can expect to start at a salary that is almost $60,000 per year. In fact, chemical manufacturing engineers are currently the

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