The capital goods industry is a sector of the economy that produces goods that are then used to make other products or services. These products or services are then sold to the end user, which will typically be another company.
Some examples of capital goods include:
- Machinery and tools
- Factory equipment
- Construction equipment
- Telecommunications equipment
- Medical equipment
- Energy equipment
An example of a capital good might be a truck. The truck might be purchased by a builder to transport materials.
Or a candy-maker may purchase machinery to help automate the candy making process.
Capital goods is a good career path due to the size of the industry and the number of large manufacturers that are part of it. Brands like Caterpillar, United Heavy Machinery, and John Deere are just a few examples.
How Many Jobs Are There In Capital Goods?
Various websites show an estimated 1.3 million job openings in capital goods.
While these websites are providing an answer to this question, there is no real data to back it up. The difficulty comes from not having clarity on what careers fall under capital goods or another industry.
For example, welders may work in capital goods careers, but they may not be accounted for in the job numbers. Automative manufacturers create trucks for consumers, but those same trucks may be used as a capital good – making the data hard to narrow down.
The above is why there is no 100% accurate way to know how many jobs are actually in the capital goods industry!
According to data from CSIMarket, the number of employees in capital goods is closer to 2.6 million. The breakdown by industry is shown below.
|Number of Employees
|Aerospace & Defense
|Constructing & Mining Machinery
|Ship & Boat Building
It is also a sector that can see extreme changes in employment which make it difficult to track. Covid
For example, COVID created a unique world where many factories and industrial employers shut down. Many of these positions have still not been reinstated due to the continuations of COVID outbreaks and a volatile economy.
Types of Jobs In Capital Goods
Capital goods, like any industry, has careers spanning all areas. This can include accounting, marketing, sales, and human resources.
But, many capital good jobs can be considered blue collar as well. Below are some examples.
- Warehouse workers
- Equipment operators
- Quality control
- Forklift driver
All of these are important jobs to fulfill the needs for capital goods.
Finding Well Paying Capital Goods Jobs
If you are wondering what capital goods jobs pay, you might be happy to know they can pay very well. If you have experience, work hard, and stick around – your salary can be very good. Most jobs also come with benefits too.
Online job boards – An excellent resource for locating one of the best paying jobs in capital goods, is to turn to online job boards. You may search for positions that are currently open by company, job title, location, and much more criteria.
Websites of firms – Once you have compiled a list of companies that manufacture capital goods that you are interested in working for, check back periodically on the careers page of each company’s official website to see if any new positions have been listed.
Internships – If you are interested, submit your application for an internship with a manufacturer of capital goods. If an intern does a good job for their company during their internship, the majority of organizations will consider hiring them for full-time employment.
Collage Career Centers – Colleges typically provide students with access to career centers that can assist them in their job search following graduation. Check out the career services that your school provides if you are a recent graduate or if you are still enrolled in college.
Professional Organization – Joining a professional group will allow you to network with people from different professions and keep you up to speed on the latest information regarding the job market that is relevant to your career. In most cases, professional organizations also provide access to a job board.
Companies such as Union Pacific, General Electric, Honeywell International, Lockheed Martin, United Rentals Inc., and Boeing all provide opportunities for employees to further their careers in an international setting. These firms also offer a variety of perks to their employees, including retirement plans, tuition reimbursement, paid time off, medical insurance, dental insurance, and vision insurance.