A new study released today by the Motor & Equipment Manufacturers Association (MEMA) shows that automotive parts manufacturing jobs in the U.S. have risen nearly 19 percent since 2012.
More than 871,000 Americans are directly employed by the automotive parts manufacturing industry. This number, which is up from 734,000 in 2012, represents 2.9 percent of the jobs in the total U.S. employment market and 2.4 percent of the U.S. gross domestic product (GDP).
Together with indirect and employment-induced jobs, the total employment impact of the motor vehicle parts manufacturing industry is 4.26 million jobs, an increase of nearly 18 percent from 3.26 million in 2012.
"Never before has the Mobility Industry had to embrace so many advances in vehicle technology so quickly and on a global scale. These numbers show that MEMA and its member companies are driving innovation, jobs, and economic growth in the U.S. by combining manufacturing and technology," said MEMA President and CEO Steve Handschuh during a media event at the Washington Auto Show. "The Mobility Industry is a significant contributor to the growth of the manufacturing and high-tech sectors. And MEMA is pulling it all together."
| Aftermarket Business World on YouTube | |
|
|
You read the articles, now get more from Aftermarket Business World by subscribing to our YouTube page. |
|
|
|
In addition, the motor vehicle parts manufacturing industry contributes $270 billion in total employee compensation, which is up 22 percent from $221 billion in 2012. Overall, the report shows that the economic contribution to the U.S. GDP generated by the motor vehicle parts manufacturing industry and its supported activity tops $435 billion.
The full report, including state-by-state employment numbers, is available here. The study and methodology, which was conducted by London-based IHS Markit, is available here.
MEMA's members are represented through four divisions: Automotive Aftermarket Suppliers Association (AASA), Heavy Duty Manufacturers Association (HDMA), Motor & Equipment Remanufacturers Association (MERA), and Original Equipment Suppliers Association (OESA).
Subscribe to Aftermarket Business World and receive articles like this every month….absolutely free. Click here.
