Mining Wages Are Lucrative & Alluring, Per Latest Report
"With more than 375,000 direct jobs that pay wages one-third higher than the U.S. industrial average and the ability to generate as many as four additional jobs elsewhere in the economy, U.S. mining provides more than vital resources for America-it can help rebuild America," National Mining Association (NMA) President and CEO Hal Quinn said upon release of the latest economics report.
The Economic Contributions of U.S. Mining, by Moore Economics, is an update of a previous analysis and documents the latest year for which complete data are available from government sources. The report is available at http://www.nma.org/pdf/pubs/mining_economic_report.pdf
Mining Still a Big Player in the U.S. Financial System
In addition to the employment data, here are other key findings of the latest analysis:
Ø U.S. mining transformed raw resources into $98.4 billion of finished mineral, metal and fuel resources, which were used by consuming industries in the U.S. to produce $1.8 trillion in additional value-added products.
Ø Mining payroll totaled more than $22 billion in 2007, generated total payroll of $64.6 billion and $21.6 billion in personal income and payroll taxes throughout the economy.
Ø Mining operations annually pay more than $7.8 billion in various taxes and fees.
The report details direct and indirect jobs, payroll, direct and indirect economic output and other key economic contributions from each of the mining sections - coal, metal, non-metal and uranium mining - by individual states and for the nation. This information also will be available by U.S. congressional district within the next few weeks.
"The Economic Contributions of U.S. Mining is an important resource that confirms the vital role U.S. mining plays in America's economy and in communities throughout the country. Policymakers need to look no further than American coal, minerals and metals mining to find jobs that support families and their dreams for home ownership and a good education for their children." Quinn added.
For many, the health risks associated with this work are worth the monetary rewards, as other industrial jobs are waning and paying less and less in America.