U.S. agricultural exports supported more than a million jobs across the economy in 2020


The benefits of agricultural exports to the US economy far exceed the value of shipments alone. The production, processing, storage, transportation, and marketing of agricultural and food products for the export market supports many full-time jobs in the United States. Related employment statistics are estimated annually by the USDA’s Economic Research Service (ERS) by measuring the employment and output effects of trade in agricultural and food products.

In 2020, U.S. agricultural exports supported the equivalent of more than 1.13 million jobs on and off the farm. With U.S. agricultural exports valued at over $150 billion in 2020, every $1 billion in exports is expected to create 7,550 jobs. Agricultural activities generated by U.S. exports—primarily crop and animal production—supported a total of 439,500 jobs. These jobs included labor provided by farm operators and their family members, hired farm workers, and contract workers.

Off the farm, exports supported a total of 423,900 jobs in service, trade and transportation industries. Food processing activities created 162,100 jobs, while other manufacturing activities, such as packaging, canning and bottling, created 107,000 jobs. This chart is taken from ERS Agricultural Trade Multiplier, published February 2022. Also see infographic Amber Waves, 2020 US Agricultural Trade Multiplier for Soybeans.

Source; usda.gov

Previous RBI treads cautiously over inflation crisis - The New Indian Express
Next Warning about 'same day' loan ads reaching 1,721% flooding Facebook