Capital goods sort of work backstage. These are tangible items that help in manufacturing daily-use consumer goods. These can be anything from industrial tools and machinery to plant equipment. In this article, we will look at how many jobs are available in the capital goods industry.
It is an industry that is essential for the consumer goods industry to work smoothly. Naturally, the sector offers lots of jobs. After all, top companies in the industry look for technically able and dedicated professionals to join their ever-growing workforce.
But how many jobs does the capital goods industry support in the USA? Is the industry booming or facing a downturn? Also, what are some of the most common jobs in capital goods? Furthermore, we understand that you must have several such questions. Don’t worry; we’ll break it all down for you!
So, without further ado, let’s get started!
Read on if you want to start a career in the capital goods industry.
Here’s How Many Jobs Are Available in Capital Goods
In accounting, capital goods are treated as fixed assets. They’re also known as “plant, property, and equipment.”
Now, this is a vast industry. As a result, the need for workers is quite diverse. So, the nature of the roles available here will also vary. Capital goods have everything from entry-level jobs to higher-level roles requiring advanced degrees.
First, let’s take a look at numbers related to the industry:
- Capital goods form a significant part of the USA’s economy. In fact, it accounts for a massive 17% of the country’s GDP.
- In the United States, the capital goods industry employs somewhere 4.1 million professionals.
- According to the Bureau of Labour Statistics, the industry will see a -2.3% growth in employment between 2021 and 2031, which is going well.
- Some prominent companies operating in capital goods, making for many high-paying and lucrative roles.
As you can see, capital goods is an industry that offers jobs to millions in the USA. Naturally, there will be all sorts of jobs in these many. Let's look at the most common jobs in capital goods to explain the nature of employment in the industry briefly.
Most Common Jobs in Capital Goods
1. Quality Control Inspectors
Quality control inspectors work in the manufacturing sector in the capital goods industry. Every year, this role sees about 67,800 job openings. Further, the employment growth rate for this role between 2021 and 2031 stands at 3%.
The median annual wage for those in the USA in this role is $38,580.
2. Industrial Technicians
This role involves helping engineers solve problems relating to manufacturing layout or the overall production process. Every year, 6,600 openings are projected for Industrial Technicians in the USA. Between 2021 and 2031, employment in this role is also predicted to grow at a healthy 3%.
This one is also a high-paying role in capital goods. It’s another reason so many keep asking how many jobs are available in capital goods. Also, the median annual wage for this role in the USA is $60,221.
3. Sales Engineers
Sales engineers sell scientific and technological products and services to big businesses. Also, around 7,000 openings are predicted annually for this role in the United States. Between 2021 and 2031, employment in this role in capital goods is expected to increase by 6%.
As one of the highest-paying roles in capital goods, the median annual wage in this position is an impressive $103,710 per year.
4. Engineering Manager
In this role, the candidate has to plan and coordinate day-to-day activities at capital goods companies. Every year, 14,000 openings are projected for this role high-paying position. This role will likely witness an employment growth rate of 2% between 2021 and 2031.
The median annual wage for this role in the United States goes way beyond the six-figure mark to $152,350.
5. Robotics Engineer
Over 1100 people in the United States are currently working as robotics engineers. Between 2021 and 2031, this role will see a 2% growth in employment.
But this one is also a job that can pay a hefty salary. In fact, the average salary for a Robotics Engineer in the USA stands at an impressive $86,425. This role is among the reasons why so many want to know how many jobs are available in capital goods and if there are any vacancies.
A career in capital goods comes with a lot of benefits. First of all, the potential for a high salary is huge. In addition to that, there is quite a lot of job security.
So, if you think you have the skills and qualifications to work in the field, prepare your resume and pen an excellent cover letter.
We wish you happy job hunting!
Here’s to hoping you take control of your career.