Defense Jobs Make up 10 Percent of U.S. Manufacturing Demand
Leaders from the aerospace and defense industry recently came together to promote the impact of their business on the economy at a summit in Washington, Reuters reports. For the nation's military contractors, the event was an important public relations push as Congress looks to reduce the budget deficit by cutting spending in many avenues, including to defense spending.
Industry experts highlighted that approximately 800,000 defense jobs, intelligence jobs and other occupations are tied to the defense industry. In addition, more than 10 percent of U.S. manufacturing demand in the U.S. is dependant on aerospace and defense spending with contractors including Lockheed Martin, Boeing, Northrop Grumman and General Dynamics.
According to the U.S. Bureau of Labor Statistics, wage and salary employment in the federal government is expected to increase by 10 percent through 2018 and demand is projected to be particularly strong for workers with skills in specialized areas that require security clearance, including financial services, scientific research and information security. Job growth is also expected in employment through defense contractors as long as government spending remains consistent.