adminHow many jobs are available in capital goods? It can be difficult to see an industry that offers more job opportunities than capital goods.
However, the Bureau of Labor Statistics, which releases information on job figures and anticipated job opportunities, projects a 6% growth for this sector between 2016 and 2026.
There are about 80 jobs that are related to the sector, but it’s not obvious which of these ought to be counted toward the total for capital goods.
It is expected that those jobs will have an average of 7.3 million job openings per year between 2020 and 2030.
If you’re seeking for a job with several opportunities for advancement, think about choosing a career in capital goods.
The capital goods sector will surely provide several chances due to the robust economy and consistent employment growth.
Many people have been asking – “How many jobs are available in capital goods?”
Therefore, we wrote this article to explain to you everything you need to know about capital goods, as well as the several job opportunities in this industry.
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What are Capital Goods?
Capital goods are the products or tangible items required to manufacture other goods and services.
The phrase can likewise refer to any type of permanent asset, such as machines, cars, houses, furnishings, and tools.
These physical objects can be regularly utilized in manufacturing and have a lengthier lifespan than usual.
Also, capital goods are essential for the economy since they can be exported, sold to other businesses, or utilized to produce other goods and services.
Furthermore, they aid companies in increasing their production and performance, which boosts the economy, adds jobs, and increases income.
Capital goods can be bought by both companies and private individuals.
Why Consider a Career in Capital Goods?
Many job searchers find the capital goods sector appealing for a number of reasons, such as:
- Most firms in the sector have been operating for several years and are regarded as stable, like Caterpillar, John Deere, Honeywell International, and General Electric.
- The capital goods sector offers a lot of entry-level positions, making it a wonderful way to launch your career and get on-the-job training.
- There will continually be a demand for people to provide products and services, thus there is strong job stability.
- The sector is rapidly expanding, and more employment opportunities is anticipated in the future years.
- You can operate from the comfort of your home, which frees up more time for family activities.
These and many more other reasons are why a career in capital goods is worth it.
We can go on and on if we decide, but these ones we lifted are the most common reasons you should consider a career in this industry.
How Many Jobs are Available in Capital Goods?
Capital goods firms employ for a broad range of jobs, from menial labor to technical jobs.
There are various production jobs available in the sector because the products being manufactured are tangible goods.
Nonetheless, there are also positions in areas such as sales, marketing, and engineering.
It is important to note that while capital goods jobs can be quite lucrative, not all pays well.
This implies that some jobs in this industry pays well more than others.
Therefore, we have compiled for you some of the highest-paying jobs in this industry.
These jobs are also in high demand and companies in the capital good industry are willing to employ you as fast as possible if you are qualified.
Here are some of the highest-paying jobs in capital goods:
1. Mechanical Engineer
Mechanical engineers help with the conception, creation, and inspection of mechanical products and equipment.
They use their understanding of physics and mathematics to make sure that goods are made in a way that is secure, practical, and effective.
A bachelor’s degree (or higher) is often needed to secure this kind of job.
Since mechanical engineering is regarded as a highly competent profession, mechanical engineers are in high demand from a wide range of firms.
The average yearly salary for mechanical engineers, as reported by the Bureau of Labor Statistics, is around $95,000.
2. Quality Control Inspector
Quality control inspectors are in charge of making sure that goods are devoid of flaws.
They often work in production and are trained on quality standards and procedures.
Quality control inspector may be an entry-level position that offers on-the-job training.
The average yearly salary for quality control inspectors is roughly $39,000, as stated by the Bureau of Labor Statistics.
3. Robotics Engineer
Presently, there are more than 1100 robotics engineers working in America.
Employment for this job will increase by 2% between 2021 and 2031.
Nonetheless, this position might also bring in a significant wage.
In America, a robotics engineer may expect to earn an astounding $86,425 annually.
4. Industrial Technicians
This position entails assisting engineers in tackling issues with factory layout or the entire production process.
There are expected to be 6,600 industrial technician job vacancies annually in America.
Employment in this job is anticipated to expand at a robust 3% rate between 2021 and 2031.
This is another well-paying position in capital goods you can look into.
In this position, the applicant will be responsible for organizing and directing daily operations at capital goods firms.
There are expected to be 14,000 vacancies for this well-paying job annually.
Between 2021 and 2031, this job’s employment is anticipated to expand at a 2% annual pace.
The average yearly salary for this position in America is $152,350, well above the six-figure threshold.
5. Computer-Aided Design Technician
Before any product can be produced, it has to first be designed.
Engineers, scientists, and different kinds of designers could all be involved in the design procedure.
Designers build and modify conceptual designs using computer-aided design/drafting (commonly abbreviated as CAD) for study, evaluation, and experimentation before finally submitting them for manufacturing.
A computer-aided design technician can create designs with software like AutoCAD.
CAD training programs are provided at community colleges and trade schools, and they can be incorporated into lengthier programs and last anywhere from 6 to 24 months.
The average yearly wage for drafters, as determined by the Bureau of Labor Statistics, is little above $60,000.
6. Sales Engineers
Sales engineers promote and market scientific and technological goods and services to large corporations.
Furthermore, America is expected to have about 7,000 vacancies for this job each year.
Employment in this job is anticipated to rise by 6% between 2021 and 2031.
Since this is among the best-paying positions in capital goods, the average yearly salary for this job is a staggering $103,710 annually.
Is Capital Goods a Good Career Path?
If you are interested in production and building, you should think about a career in capital goods.
The capital goods sector also plays a significant part in technological growth, therefore if you are enthusiastic about technology or creativity, this could be the ideal field for you.
Capital goods is a good career path if you’re searching for a job in a sector that will give you the opportunity to advance your career.
As technology continues to develop, the capital goods industry will also keep developing.
For instance, with the car sector shifting toward electric vehicles, there will be a rise in the need for specialized equipment and also lithium.
The capital goods sector provides exceptional chances for job searchers with technical skills and expertise, with the benefit of job stability.
This is one sector where the advent of automation and the development of technology will lead to growth instead of decline.
Also, big capital goods firms also offer unionized workers attractive salaries and perks.
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Conclusion
We hope we have addressed the question – “How many jobs are available in capital goods?”
There are many advantages to working in the capital goods industry.
To start with, the possibility for continuous salary increase is enormous.
Also, there is a good deal of job stability.
If you are interested in this industry, you can proceed to apply for any of these jobs depending on your skills and experience.
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