CPG industry supports 20.4M jobs
Industry is largest manufacturing employer in the country
The consumer packaged goods (CPG) industry supports one in 10 American jobs and is the largest manufacturing employer in the United States, according to a new report released by the Grocery Manufacturers Association (GMA), Arlington, Va. The findings from the study, conducted by PricewaterhouseCoopers LLP (PwC), show that the CPG industry supports 20.4 million jobs that generate $1.1 trillion in labor income, and contribute $2 trillion to the nation’s gross domestic product (GDP).
“The CPG industry’s impact on the American economy cannot be understated,” said GMA President and Chief Executive Officer Geoff Freeman in a statement. “Most people don’t consider the jobs and livelihoods they are supporting when they purchase a new tube of toothpaste or stock up on their favorite snacks, but the products we all rely on each day have an enormous impact on our economy.”
The CPG industry encompasses the food, beverage, household and personal care products that Americans depend on every day. The industry’s direct impact alone totaled 2.3 million jobs in 2017, paying labor income of $151 billion and adding $361.3 billion to the nation’s GDP. The average income for employees of the CPG industry is $4,000 more than the national income average ($64,700 vs. $60,700). The industry also directly accounts for 18 percent of all U.S. manufacturing employment, it adds.
Through its indirect, induced and downstream impacts, the industry supports more than 18 million additional jobs in the wider economy that generate $957 billion in labor income and contribute $1.6 trillion in GDP, the GMA says. BI