New! How Many Jobs Are Available in Capital Goods 2023?

If you have planned to get a Job in Capital Goods then you are very lucky this time. People are showing interest in Jobs in Capital Goods in 2022 more than in the previous year. You have another good news because more and more new jobs are available in Capital Goods.

According to information compiled from a variety of sources, it is projected that the industry of capital goods is currently in need of between 970,000 and 1.3 million new employees.

How Many Jobs Are Available in Capital Goods
Jobs Are Available in Capital Goods

What are Capital Goods Jobs?

In general terms, Capital Goods are industries that are those sectors that produce assets for their business. But in a deeper sense, Companies that manufacture fixed assets for use in other businesses are considered part of the capital goods industry. The main goal of these companies is to provide goods for other companies so that they can make various products. Some examples of capital goods jobs are Cameras, Cellphones, Machinery, Textiles, Steel, Automobile, Telecommunications, Electronic chips, etc.

Products used in production rather than consumption (like toothpaste, bicycles, or cellular phones). However, some things, like automobiles, can be considered capital goods if bought by a company but consumer goods if bought by an individual.

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Jobs Opening in Capital Goods

Only 150,000 of the 1.3 million capital goods job openings involve labor. This means there is a huge need to fill those 900,000 positions. Capital goods job openings vary per position. Indeed has around 4,000 engineering jobs and 1,000 sales roles. If you want to work in capital goods, investigate the position you want and how many jobs are available. Always be updated about the openings vaccinees for the post you want to get a job in Capital Goods Sector.

Benefits of Capital Goods Jobs

There are many benefits of working as a capital goods worker.

  • Retirement plans
  • Vision insurance
  • Tuition reimbursement
  • Vacation days
  • Medical insurance
  • Dental Insurance
Benefits of Capital Goods Jobs

Examples of Capital Goods Jobs

In general, capital goods are defined as tangible items that are produced by businesses for the purpose of being converted into consumer goods. The classification of a product as either a consumer good or a capital good can change depending on a variety of factors, such as the amount, the end-user, the customers, and the required investments. These are finished and semi-finished goods. Here are some examples of different types of capital goods:

  1. Cotton, wool, and nylon are all examples of materials used in the textile industry.
  2. Woods and Furniture
  3. Oils, minerals, and natural gases are all examples of different types of chemicals.
  4. Machinery
  5. Steel
  6. Buildings
  7. Components for bicycles, automobiles, and other vehicles are included in the automotive industry.
  8. Components of consumer electronics, as well as those used in industrial, telecommunications, and other electronic applications.

Capital Goods Jobs Status in the USA

The United States has a substantial capital goods manufacturing sector. United States Bureau of Labor Statistics (BLS) estimates that this industry produces roughly 17% of GDP and employs 13% of the entire workforce (BLS).

As a result, approximately 6 million people are employed in positions directly associated with this sector, while another 3 million are employed indirectly in the supply chain and other roles that deal with capital goods companies. Nearly 9 million individuals have jobs, either directly or indirectly, in this industry.

Estimated Capital Goods JobsDateSalary
7.3 million job opportunities are expected annually2022 – 2030Up to $130K
Estimated Capital Goods Jobs this year

In support, you will find detailed statics, Employment numbers, and expected job openings for 1,000 occupations published by the Bureau of Labor Statistics. 80 vocations overlap with the capital goods industry. In such occupations, 7.3 million job opportunities are expected annually from 2020 through 2030. This estimated Capital Goods Jobs in 2023 may grow because of pressure on the government to increase the capital market.

Related Topic: What is Capital Formation?

Federal Reserve Economic Data (FRED), an online database that records economic data, reported that manufacturers’ new orders of nondefense capital goods (excluding airplanes) totaled $74 billion in June 2022. During that time, manufacturers’ new orders for all manufacturing totaled $555 billion. Based on these data, capital goods account for 13% of production.

If capital goods jobs are proportional to manufacturing orders, 973,823 job opportunities would be expected annually.

Whatever your position is in capital goods, you are striving to make sure that customers receive high-quality products and that companies can continue to run smoothly.

The good news is that a career in capital goods offers superb job security. Because we live in a consumer culture, there will always be a need for people to provide the goods and services we have come to rely on as well as to innovate new products to catch the attention of the general public.

Capital Goods Jobs Salary

Consider the capital goods sector if you’re seeking a well-paying position in that field. Numerous high-paying career opportunities are available in a variety of divisions within this industry. The average salary for capital goods workers may be different and depends on Job Position, Experience, Faculty, and Country. In numbers, the average salary of capital goods workers is more than $90,000.

PositionSalary
Engineering Manager$150,000
Business Development Manager$130,023
Manufacturing Manager$120,840
Engineering Manager$119,036
Software Developer$110,140
Electrical Engineer$100,420
Industrial Engineer$95,300
Project Manager$92,036
Marketing Manager$88,827
Mechanical Engineer$86,500
Product Development Engineer$75,987
Best Paying Jobs in Capital Goods

What is the best-paying job in Capital Goods?

As here is the list of jobs with their salary. The best paying job in capital goods is Engineer Manager with a Salary of $150,000. You may make more than $100,000 a year depending on your background and skills. Electronics engineers make a median pay of $107,540 annually, according to the US Bureau of Labor Statistics.

Are capital goods jobs good for the future?

Yes, capital goods jobs are suitable for the future because consumer request for goods is increasing yearly, and more and more production will be required to fulfill the demand. So, employment in capital goods will increase in the future. If you are a tech guy data structure is a very much important topic for you to follow in this career.

How many jobs are available in capital goods

There are many kinds of jobs available in Capital Goods starting from engineer to researcher. Every industry in capital goods requires the same kinds of posts with different expertise. Here we listed some jobs available in capital goods.

  1. Senior Mechanical Engineer
  2. Sales Engineer
  3. Industrial Designer
  4. Marketing Manager
  5. Business Development Manager
  6. Engineering Manager
  7. Computer-Aided Design Technicians
  8. Research and Development Manager
  9. Manufacturing Manager
  10. Warehouse Worker
  11. Director of Manufacturing
  12. Manufacturing Engineer
  13. Robotics Engineer
  14. Quality Control Manager
  15. Product Development Engineer
  16. Development Manager
  17. Mechanical Engineer

Is Capital Goods a Good Career Path?

Yes, Capital Goods is a good career path if you want an admirable salary, facilities, and future pension. There are a lot of opportunities in the Capital Goods Market. Many capital goods companies have been around for a while and have well-established, generally stable businesses.

In the capital goods industry, many entry-level positions are available, many of which don’t require a four-year degree, which can let job seekers learn more about the industry and choose alternative career paths while earning a living. Many capital goods firms, especially the larger ones, offer competitive benefits and prospects for promotions. So, you can choose capital goods jobs as a good career.

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Conclusions

Capital Goods is an ever-growing industry and jobs in capital goods are highly payable. It is full of opportunities, titles, and promotions. You will get a good salary at starting of your position. If you are looking for a job in management, engineering, sales, Quality Control, Manufacturing, etc then the Capital Goods sector is good for you.

It’s time to finish this writing now. I sincerely hope you find this Capital Goods content to be very useful. Please feel free to comment if you have any questions about this topic.

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