The rumors of U.S. manufacturing’s death have been greatly exaggerated, said the National Association of Manufacturers today as it issued a blueprint for boosting America’s manufacturing competitiveness and creating jobs.
According to the NAM, the United States is the world’s largest manufacturing economy, producing 21% of its manufactured goods, followed by Japan, with 13%, and China, with 12%. Manufacturing accounts for roughly 18.6 million U.S. jobs, or about one in six private-sector jobs, that pay an average of $70,666 annually, well above the non-manufacturing worker’s average salary of $57,993. The problem, as the NAM outlines it, is that foreign manufacturers, with support from their governments, are posing tough competition, and the United States lacks a comprehensive, national policy to parry such attacks.
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