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Mar. 21, 2024 Source: Feeding the Economy news release Washington, D.C. - Today, 32 food and agriculture groups released the eighth annual "Feeding the Economy" report, a historic farm-to-fork economic impact study that helps to estimate the direct and indirect economic contributions of the food and agriculture industries on jobs, wages, economic output, and business taxes. The 2024 report's findings show that the total economic impact for the food and agriculture-related industries grew 11.8% over the last year, reaching $9.63 trillion. This represents 20.01% of total U.S. output. The study also drills down to highlight the impact of this sector to include: *Total Jobs: 48,665,870 (up 19.53% since the 2020 report) *Total Wages: $2.77 trillion (up 33.82% since the 2020 report) *Total Taxes: $1.25 trillion (up 36.91% since the 2020 report) *Exports: $181.36 billion (down 2.70% since the 2020 report) There were almost the same number of jobs in agriculture (2.49 million) and manufacturing agricultural products (2.46 million). The number of direct jobs in food and agriculture was up almost 800,000 since the 2020 report (up 20%). From the 2020 Feeding the Economy report to now, food and agriculture manufacturing jobs grew at a faster rate than any other job category. As a result, manufacturing of agricultural production now accounts for almost 20% of America's manufacturing jobs, over twice as many as automobile manufacturing. The report shows the significant role that the food and agriculture sectors play in supporting the U.S. economy and helps the public and policymakers better understand how these industries continue to promote those contributions. To view the full report and the list of its 32 sponsors click here. Tweet |
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