Friday, November 2, 2012

The Benefits of a Career in Manufacturing

The U.S. economy relies heavily on the manufacturing sector. Manufacturing firms fund most of our domestic corporate Research & Development, and the resulting innovations and growth in productivity improve our standard of living. Manufacturing boosts exports and the industry plays an important part in national defense. 

Recently, the economic recovery has shown a return in manufacturing job growth. U.S. Manufacturing employment has grown by 4 percent from January 2010 until April 2012, making it the strongest cyclical rebound since the early 1980's.

A career in manufacturing is becoming more prominent and is highly beneficial as well.  Manufacturing jobs have a number of advantages, including:

  • High hourly wages – The average hourly wage and salary for manufacturing jobs in 2010 was $29.75. Total hourly compensation, including employer-provided benefits, was at a 17 percent premium over the workers in non-manufacturing jobs. Manufacturing workers tend to earn 7 percent more hourly than workers in other industries. 
  • Highly-valued benefits – Manufacturing workers are more likely than any other workers to have significant employer-provided benefits. This includes medical insurance and retirement packages. 
  • Working for an innovative industry – Manufacturing workers are innovation drivers and often have skills and experience in science, technology, engineering and mathematics (STEM) industries. Nearly one-third of college educated manufacturing employees hold a STEM job. 
  • Manufacturing workers are educated professionals – The educational attainment within the manufacturing industry is on the rise. In 2012, over one half of manufacturing jobs are held by those with at least some level of college education.

In January 2011, the Michigan manufacturing sector employed 498,000, comprising 12.7 percent of total non-farm employment in the state. Manufacturing jobs increased by 6.3 percent from March 2010 to March 2011, more than double the growth seen in any other sector. During this time employment grew by 75,700 jobs; 30,000 of these jobs were in the manufacturing sector. In addition, manufacturing compensation is 74.5 percent higher than other nonfarm employers in the state

In the next several years, the Baby Boomer generation will retire and allow continued hiring opportunities in the manufacturing sector. From mid-2009 through February 2012, job openings surged by over 200 percent. The availability of these jobs paired with the benefits of working in the manufacturing industry provides job seekers with an opportunity to excel.

MMTC assists small and mid-size manufacturers with personalized services that are fitted to meet the needs of Michigan's small businesses. MMTC develops more effective business leaders, promotes company-wide operational excellence and fosters creative strategies for business growth. For more information, click here.


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