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American jobs and Agriculture

A recent study from the Food Marketing Institute found that more than a quarter of American jobs are linked to food and agriculture.

"A nationwide economic impact study has found that more than one-fifth (or 20.4%) of the nation’s economy is linked, either directly or indirectly, to the food and agriculture sectors and that more than one-fourth of all American jobs (28%) are similarly connected. Twenty-two food and agriculture organizations commissioned this research, available at www.FeedingTheEconomy.com. Among the most important findings:

Total Jobs: 43,311,057

Total Wages: $1.9 trillion

Total Taxes: $894.13 billion

Exports: $146.32 billion

Total Food and Industry Economic Impact: $6.7 trillion

To measure the total economic impact of the sectors, the analysis also includes the indirect and induced economic activity surrounding these industries, which captures upstream and downstream activity. For example, when a farm equipment retailer hires new employees because farmers are buying more tractors, experts consider the new salaries an indirect impact. Similarly, when a retail associate spends her paycheck, an induced economic impact occurs. Together, these have a multiplier effect on the already formidable direct impact of food and agriculture.

The economic data was compiled by John Dunham & Associates and is available at www.FeedingTheEconomy.com. The analysis illustrates the direct impact of food and agriculture on jobs, wages, economic output, exports, and state and local business taxes. The interactive website also breaks out the data at the national, state and congressional district levels."

Read the original article here. Posted November 21, 2017.

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