New Report: One job in the U.S. steel industry supports seven other jobs.
A new report by Timothy J. Considine, professor of energy economics, University of Wyoming, reveals that the American steel industry is playing a significant role in leading manufacturing's post-recession resurgence primarily because it is highly interrelated with many other sectors of the economy.
In his analysis titled, "Economic Impacts of the American Steel Industry," Considine says that "one job in the U.S. steel industry supports seven jobs in the U.S. economy."
For 2011, the report states, the American steel industry directly employed 150,700 and given the multiplier effect, supported more than 1,022,009 jobs.
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