The capital goods industry creates many job opportunities for people in different sectors. Do you know how many jobs are available in capital goods? The number can shock you!
In 2023, the capital goods industry has become the most promising medium for faster growth. If you are one of the many persons pursuing a career too, our list of capital goods jobs can be a good recommendation!
But first things first! Let’s delve deeper and have a slight concept about what capital goods industry in economics.
Contents
What is Capital Goods Industry in Economics?
Capital goods refer to the business of physical assets in production lineups. More precisely, capital goods are products or services that can maintain other services or products.
For those who did not know, the capital goods industry is the main driving force for creating millions of job positions in the job sectors from millions of companies. These tangible items are the primary source of producing our friendly things in daily life.
Quick Example of Capital Goods
- Computer manufacturing companies;
- Building & Construction equipment;
- Biot technologies and devices;
- Aviation & Aerospace;
- Military Equipment;
- Transportation System.
How Many Jobs are Available in Capital Goods?
Recent reports said that capital goods cover up a third of the GDP of America. So, the question arose asks how many jobs are available in the united states? Voila! We got a concise answer!
The study says that around 1.3 million jobs are available in the united states. Meaning you have a variety of options to choose from assembly roles to quality control roles. These jobs can be anything from industrial machinery to plant equipment.
Federal Reserve & Labour Statistics Data
The Bureau of Labor Statistics listed projected job openings in 1,000 occupations. The next good news is around 7.3 million job openings will take place between 2020 to 2030.
The value of capital goods from new orders was about $74 billion until June 2022, excluding military aircraft. And the total value of the industry was $555 billion. According to these data, capital goods made up almost 13% of all manufacturing.
Do you know what is so special about this data? This estimation confirms 900,000+ job openings annually in the exact count.
Available Job Statistics
- 150K+ manual labor jobs;
- 4,000 openings in the engineering sector;
- 1,000 open positions in the sales field;
- 200K job openings in the construction industry;
- 970L+ job openings in manufacturing.
List of Available Capital Goods Jobs
What are the jobs in the capital goods? What types of jobs are you can apply for? Well! Different opinions you might see in this journey. In fact, the number of jobs will vary depending on your preferred job sector.
Hence, we have listed the most common jobs with a brief of the possible growth measurement of each position. Please follow the list below.
- Quality Control Inspectors
Quality control inspectors can work in the manufacturing sector in the capital goods industry. This role has an average of 65,000 job openings each year, extending to 96,000 this year.
Furthermore, the employment growth rate for this role will be around three to four percent in the present decade.
The main task is checking the defect-free manufactured products following the quality protocols and specifications.
Growth Rate: 3%; Period: 2021-2031; Earnings: $268K+ in the US
- Computer Design Technicians
Computer design technicians are unrivaled in the present era. They are called architects in the business industry. Their job is to create a pre-vision copy of the product and service to observe and determine the manufacture.
The workflow contains designing and testing products using software before entering the factory for mass production.
Earnings: From $37K to $60K+
- Industrial Technicians
Industrial technicians help engineers solve problems that are hampering production. They keep equipment plans and design workflow side by side to be prepared for any unwanted problems.
Every year, 6500+ job openings are created for Industrial Technicians in the USA. No doubt that this role has a higher growth in the upcoming teen years.
Annual Wage: $60,221 in the US
- Engineering Manager
The job is about coordinating day-to-day activities at capital goods companies. He is the one who designs and manages projects to ensure efficient finalization.
Not to mention that it’s one of the highest-paying jobs. There are 14000+ openings found each year with an employment growth rate of 2%.
Earnings: Annually $152,350 in the US.
- Programmers
Nowadays, digitalization is at the peak of the industry to make things work faster! And of course, programming has become another high-paid job for the capital goods industry!
Almost every industry depends on computer programs to automate supply chain management, logistics, and production. Therefore, programmers develop integrated systems to manage everything efficiently.
Openings: 335,000+; Growth Rate: 21%
- Marketing Managers:
Marketing managers use modern marketing techniques to drive sales at a larger rate. Their main job is to identify target audiences and approach them through the right channels.
Guess what? Digital marketing is becoming the most effective way for marketing managers these days. With 8% growth in the job, there will be more than 150,000+ job openings this year for this rile.
Growth Rate: 8%; Earnings: $65,000 annually in the US.
- Industrial architects
More business concerns are requiring more buildings these days. Industrial architects are making Architects make constructions with ensuring environmental safety and energy efficiency.
This made them a vital face of the capital goods industry. The earning of industrial architects are up to $70,000+ in the United States.
Earnings: %70,000+
Why Is Capital Goods an Appealing Industry?
While there are reputed jobs in the medical and art faculties, what do people find so appealing in the capital goods industry? We have dug out three reasons for that.
- Hundreds of well-known brands offer jobs in multiple reputed positions in the capital goods industry. This creates a huge impact on job seekers’ minds.
- Entry-level jobs are available for beginners as interns or fresher candidates, which is an advantage to the young generation after completing their graduation.
- The jobs offer a higher amount of salary that can help an employee become established in a quick period.
So, folks, that’s all for now! We believe you got enough idea about how many jobs are available in the capital goods industry. Particularly the potential for a high salary act as a huge job security. Also, the workers have the possibility to grow their experience in top-notch manufacturer plants.
FAQ
Is capital goods a good career path?
Capital goods is a wise career path. The industry is growing steadily to create more and more job openings. Plus, job security is an extra benefit added to this sector.
What companies are in the capital goods field?
Especially the companies which are in producing new capital assets take place in this field. For example, we have seen leading US companies like Union Pacific, General Electric, and Honeywell International investing more in this field.
What jobs are most available?
The most common capital goods jobs are
1. Software Developer;
2. Business Development Manager;
3. Marketing Manager;
4. Manufacturing Engineer;
5. Quality control manager;
6. Sales Engineer;
7. Mechanical Engineer;
8. Robotics Engineer, etc.
