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What a shock, Ipi Meaning In Business isn’t it?
“All the manufacturing jobs are going overseas” is the common cry. The truth is, manufacturing is growing in the USA. There is some confusion in this. It might pay to know what you’re talking about. In a few minutes you’ll have a much more clear picture of global manufacturing.
The USA currently produces about 22% of all manufactured goods on the planet. The USA reached Electrical Technology Degree it’s all-time manufacturing peak as expressed as a percentage of world production in 2006!
The USA reached a peak dollar volume of manufacturing, and peak profits in (you guessed it) 2006.
The USA’s manufacturing output is about 2.5 China’s output.
In world ranking for size of economy, the USA is number one, Japan is a distant second, and China is third.
So, what is all the scary talk about?
Well, when expressed as a percentage of our over-all economy, manufacturing is shrinking. In other words, after World War ll about 28% of OUR economy was manufacturing. That percentage is now about 11% and falling.
And we are losing manufacturing jobs at a fast rate. Part of this is because we are the most efficient workers on earth! What that mean is, that for every hour an American worker works, more goods or services are produced than by any workers from any other country on earth. Why? Because we are hard workers and driven people, and we apply technology which allows one person to do the work of many.
Why are we driven?
Think about it: The USA was originally populated by immigrants from around the globe, and we still allow huge immigration numbers. What kind of people give up their family history and everything they are comfortable with to travel thousands of miles to a completely strange land? I’ll tell who does this: people with guts, gumption, energy, and the entrepreneurial spirit, that’s who! The meek and mild mannered stayed home.
What you end up with is a country full of winners.
Combine this with freedom and limited government, and you have the makings of a world-leading nation. America is far from “over.” And manufacturing in America is far from over. For example, pipe welding is in high demand, yet the USA is short about 200,000 welders. Only about 5% of all welders can weld pipe. We are once again building nuclear plants, pipe lines, and all sorts of projects that require welding here, in America. Pipe welders typically earn between $60,000 and $100,000.
What should you do now?