Semiconductor industry supports more than 1 Million American jobs
Each semiconductor industry job enables approximately five additional jobs throughout the economy
According to the SIA the U.S. semiconductor industry supports more than 1 million American jobs throughout the U.S. economy.
This in addition to the industry's 244,800 direct jobs.
It is claimed that according to government data that each semiconductor industry job enables 4.89 jobs in other sectors of the economy.
"The U.S. semiconductor industry supports more than 1 million American jobs, drives economic growth and leads the global market, but our competitors abroad are working hard to attract the world's top innovators and job-creators," says Brian Toohey, SIA president and CEO. "To ensure that semiconductor design and manufacturing continue to thrive here in the U.S., we must invest in basic research, welcome the top scientific minds from around the world, and ease economic uncertainty by getting our country's fiscal house in order."
Recently released employment data illustrate the semiconductor industry's far-reaching ripple effect on the broader U.S. economy. The industry's employment multiplier of 4.89 is higher than that of many other industries, including the construction industry (1.90), the communications industry (2.52), and the automobile industry (4.64).
The employment multiplier for the overall manufacturing sector is 2.91.
"As the source of more than 1 million American jobs, the semiconductor industry is critical to America's strength," adds Ajit Manocha, SIA chairman and CEO of Global Foundries. "Our industry is a primary driver of U.S. job creation, manufacturing and global competitiveness, but America's continued leadership of the semiconductor industry is not guaranteed. Without smart, proactive policies from our leaders in Washington, this great American success story is in danger of slipping away."
