Automotive components manufacturing jobs have risen nearly 19% in the United States since 2012, according to a study released today by the Motor & Equipment Manufacturers Association (MEMA).
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% of total U.S. jobs and 2.4% of 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% 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,” said Steve Handshuch, president and CEO of MEMA, during a press event at the Washington Auto Show. 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.”
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.