9 MAY 2023 WorldWide Drilling Resource® Equipment Industry Rebound The Association of Equipment Manufacturers (AEM) released the latest economic impact report highlighting the equipment manufacturing industry’s return to growth and increased output following the end of the pandemic. The report was prepared by the Market Intelligence Team at S&P Global and details the impact of the three major sectors - agriculture, construction, and mining. Some key findings were the U.S. equipment manufacturing industry supports 2.35 million jobs, including direct, indirect, and induced employment. It comprises 11% of the total manufacturing employment base, or 1 in 9 U.S. manufacturing jobs; on average, these jobs pay 33% above the national average. It contributes $316 billion to the nation’s economy annually. The industry supports more than 1000 jobs in 44 states, with a total employment impact of more than 10,000 in 32 states. The top 10 states support a total of 1.6 million jobs. "The equipment manufacturing industry has shown time and again that it is a resilient force in the North American economy, weathering everything from global pandemics to supply chain disruptions with strength and determination. As we look to the future, we can be confident that this industry will continue to adapt and innovate in the face of new challenges, providing stable jobs and economic opportunities for communities across the continent,” said AEM President Megan Tanel. View the report at: https://www.aem.org/AEM/media/docs/Advocacy/2023-AEM-Economic-Impact-Report.pdf
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