Good news for manufacturing sector

By Staff -- Modern Materials Handling, 3/1/2000

Manufacturing wages are among the best in the country, according to a new booklet from the National Association of Manufacturers (NAM). The average manufacturing worker earns $48,000 in total compensation, compared to a national average of $40,000.

And the manufacturing sector's contribution doesn't end there. Manufacturing contributed 29% to economic growth in the 1990s-more than any other sector. From 1992 to1997, U.S. economic growth increased at an average rate of 3.1%. During the same period, manufacturing's share of the GDP grew even faster at a rate of 5.2% per year.

Manufacturing exports doubled in the past 10 years, according to the booklet. Nearly 15% of the products made in the U.S. are destined for overseas markets, compared to 7% in 1985.

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