As the United States celebrates its 13th annual Manufacturing Week from 4 to 11 October, new data from the US Census Bureau and the Bureau of Labor Statistics (BLS) highlights growth in the semiconductor manufacturing sector.
The latest BLS data shows that the number of semiconductor and related device manufacturing establishments rose from 1,876 in the first quarter of 2020 to 2,545 by the first quarter of 2024, reflecting the increasing demand for microchips amid a growing digital economy.
Employee numbers also surged, with the industry employing 202,029 workers as of January 2024, up from 185,370 in January 2020.
This steady growth in employment showcases the expanding footprint of semiconductor manufacturing in the US economy.
Wage statistics, reported in the Census Bureau’s Annual Survey of Manufactures (ASM), reveal that salaries in the semiconductor industry have consistently climbed.
The average annual wage increased from $107,943 in 2018 to $116,254 in 2021.
Although the wage growth between 2019 and 2020 was not statistically significant, the continued upward trend reflects the high demand for skilled workers in this advanced manufacturing sector.
In parallel, the value of shipments in the US semiconductor industry rose sharply.
According to the ASM, the value of shipments jumped from $52.7 billion in 2018 to $58.7 billion in 2021. This increase is attributed to the rising demand for microchips in a wide array of industries, including electronics, automotive, and telecommunications.
The semiconductor industry has also seen investments in robotics and equipment, driven by the need for advanced manufacturing processes.
Data from the Annual Capital Expenditures Survey (ACES) shows that expenditures on robotics in semiconductor manufacturing grew from $579 million in 2020 to $1.0 billion in 2022.
Total equipment expenditures for the industry also rose, doubling from $14.4 billion in 2020 to $30.3 billion in 2022. These investments underscore the sector’s commitment to boosting productivity and maintaining its competitive edge on a global scale.
As the semiconductor industry continues to grow, upcoming data releases will begin capturing the effects of the CHIPS and Science Act of 2022.
This legislation aims to strengthen U.S. supply chains, create more jobs in the manufacturing sector, and lower consumer costs by bolstering domestic semiconductor production.
The next major release of Census data on the semiconductor industry will be the Geographic Area Statistics from the 2022 Economic Census, scheduled for December 2024.
This release will provide detailed statistics at the national and state levels, offering insights into the distribution of semiconductor manufacturing activity across the country.
In celebration of Manufacturing Week, the Census Bureau is highlighting its Manufacturing webpage, which features a wealth of data, tools, and resources on the sector.
The initiative encourages companies and educational institutions to engage with students, parents, and community leaders to promote careers in manufacturing, aiming to inspire the next generation of workers in the sector.
