Manufacturing Census Report: No One Thought It Would Be Pretty (INFOGRAPHIC)
The United States lost 35,931 manufacturing establishments in the wake of the Great Recession, according to the 2012 Economic Census advance report issued today by the U.S. Census Bureau.
Manufacturing establishments fell from 332,536 in 2007 to 296,605 in 2012, an 11% drop in industry facilities.
The manufacturing workforce also showed significant shrinkage, from 13,395,670 in 2007 to 11,268,906 in 2012, a drop of 2,126,764 or about 16%.
Payrolls in manufacturing declined from $613.7 billion in 2007 to $593.7 billion in 2012. However, the manufacturing sector saw revenue increase from $5.3 trillion in 2007 to $5.7 trillion in 2012.
In contrast, mining, quarrying and oil and gas extraction boomed in that period. Revenue for those sectors grew 34.2% to $555.2 billion and employment rose 23.3% to 903,641.
