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Manufacturing in the United States
Overview of the manufacturing industry of the United States of America / From Wikipedia, the free encyclopedia
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Manufacturing is a vital economic sector in the United States.[1] The United States is the world's third largest manufacturer (after the People's Republic of China and the European Union) with a record high real output in Q1 2018 of $2.00 trillion (i.e., adjusted for inflation in 2009 Dollars) well above the 2007 peak before the Great Recession of $1.95 trillion.[2] The U.S. manufacturing industry employed 12.35 million people in December 2016 and 12.56 million in December 2017, an increase of 207,000 or 1.7%.[3] Though still a large part of the US economy, in Q1 2018 manufacturing contributed less to GDP than the 'Finance, insurance, real estate, rental, and leasing' sector, the 'Government' sector, or 'Professional and business services' sector.[3]
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Though manufacturing output robustly recovered from the Great Recession to reach an all-time high in 2018, manufacturing employment has been declining since the 1990s. This 'jobless recovery' made job creation or preservation in the manufacturing sector an important topic in the 2016 United States presidential election.[4]