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At the height of American manufacturing in the 1970s and 1980s, most goods purchased by U.S. consumers were manufactured domestically. Today, many goods located on store shelves are produced overseas. These products tend to be more affordable than their American-made alternatives, which makes them accessible, especially during times of high inflation and economic volatility.
However, a recent survey shows 72% of consumers seek out American-made goods either “somewhat often” or “very often.” Many respondents even reported being willing to pay more for domestically sourced products.
As many American companies reshore their operations, the production of U.S.-made goods and job opportunities are rising. Below, we provide insight into American-made products, the U.S. workforce by the numbers, and the current state of the manufacturing sector.
The Number of Small Businesses in the U.S.
As of 2022, the United States has roughly 33.2 million small businesses, which translates to 99.9% of all businesses in the U.S. Of the more than 33 million small businesses in the U.S., approximately 27 million don’t have any employees.
The Number of Workers in the U.S.
According to Statista, there are approximately 132 million full-time employees in the U.S. as of March 2023. This represents a slight increase compared to February of the same year.
Despite having a large and steadily growing workforce, the U.S. manufacturing space has yet to find the talent needed to fill critical vacancies. According to the National Association of Manufacturers, 2.1 million manufacturing vacancies could be unfilled by 2030. These vacancies could lead to over $1 trillion in losses.
