How Many Jobs Are Available In Capital Goods?

Capital goods are required in all industries of the economy. Without them, businesses can’t even survive in the market. Many people are looking for the best paying jobs in this sector, as it has a huge market, brimming with rewards. So, exactly how many jobs are available in capital goods? You will find out all about it in this article, along with other information required to help you choose a career in this sector.

What are Capital Goods?

A capital good is a category of economic good that economists use to describe a production input other than land, labor, and raw materials. The products or tangible items required to manufacture other goods and services are capital goods. This expression is used to indicate everything that is long-term and owned, such as tools, machinery, structures, and equipment.

These physical objects can be continuously employed in production and have a longer lifespan than typical. Additionally, capital goods are essential for the economy since they can be exported, sold to other businesses, or utilized to produce other goods and services.

Additionally, they aid companies in increasing their production and efficiency, strengthening the economy, adding jobs, and increasing profits. Finally, capital products can be bought by both companies and private individuals. Construction, transportation, aircraft, and defense are a few industries. Even shipping goods can be considered capital goods independent of labor costs.

How Many Jobs are Available in Capital Goods?

Few industries provide as many job prospects as the capital goods industry. Bureau of Labor Statistics, which releases information on employment figures and anticipated job opportunities, projects a 6% growth for this sector between 2016 and 2026. If you are thinking – how many jobs are available in capital goods – there are about 80 jobs that are related to the industry. It is expected that these professions will have an average of 7.3 million job openings annually between 2020 and 2030.

With many possibilities for progress, consider pursuing a career in capital goods if you’re searching for a position. It provides strong economy and consistent job growth, thus opting a job in this field can be beneficial for you in both financial and growth prospects. Finding and thriving at a job in capital goods should be very simple as long as you have the relevant skills. But, how many jobs are available in capital goods?

Most occupations in the capital goods sector are white-collar positions requiring specialized knowledge, such as those of a manufacturing engineer or computer programmer. Still, there are also many low-skilled positions, such as vehicle drivers or factory technicians.

Capital goods employees have several options for a successful career path, regardless of their position. Here are some of the best career scopes and job opportunities in the Capital goods sector listed below:

White-Collar Jobs

White-collar occupations in capital goods, such as computer and manufacturing engineers, typically require a bachelor’s degree or above. Due to the large range of connected products that aid in production, the capital goods sector offers a variety of white-collar work categories.

Need a side business to supplement your income as you look for your perfect job path in the capital goods sector? Here are a few jobs to help you get by till you land your dream career!

1. Financial Controller

National average salary: $246,600 per year

Financial controllers have a key role in effectively managing the accounting function and ensuring accurate and timely company records. Their primary responsibilities include overseeing the financial close process, generating financial statements, and preparing reports that contribute to informed decision-making.

Roles and Responsibilities:

• Oversight of general accounting activities.
• Development and implementation of internal policies and spending controls.
• Coordination with external tax accountants.
• Establishment of bank accounts.
• Ensuring timely receipt of payments from customers and other debtors.

Employees who have experience in general finance and Excel modeling can apply for this role.

Also Read: How Many Jobs Are Available In Packaged Foods (2023)

2. Computer Programmer

National average salary: $55,529 per year

Computer programmers develop the systems that manage all the production machinery. In the automation age, production processes and supply chain management require major use of computers and software. Because they create integrated systems that can manage all the capital goods used in production, computer programmers are crucial to the capital goods sector.

Roles and Responsibilities:

• Develop and test software programs for internal use.
• Identify and resolve coding errors in existing programs as required.
• Provide training to end-users after software completion.
• Manage multiple projects concurrently and promptly address tech support requests.
• Deploy systems in the in-house production environment.
• Communicate any problems or concerns to the IT manager without delay.
• Investigate and troubleshoot system bugs and other issues.

If you have a degree or certification in programming, there are many work prospects in this sector.

3. Marketing Manager

National average salary: $115,991 per year

When it comes to the capital goods industry, sales and marketing are essential components and come towards the end of the production process. Capital items such as machinery and construction tools are sold to factories, so marketing and sales knowledge is very important. It helps you understand customer needs for these kinds of goods and make sure that your business runs smoothly.

Roles and Responsibilities:

• Develop marketing strategies to accomplish organizational objectives.
• Execute marketing campaigns, starting from conceptualization to implementation.
• Effectively manage the marketing budget.
• Coordinate marketing initiatives with cross-functional teams such as sales and product development.
• Analyze marketing data and metrics to enhance marketing strategies.
• Stay informed about the latest marketing trends.

Sales aptitude and a background in marketing are particularly beneficial in this field. Now you know how many jobs are available in capital goods.

4. Manufacturing Engineer

National average salary: $85,918 per year

Manufacturing engineers guarantee that manufacturing lines, such as those used to build automobiles, are safe, dependable, and efficient. New tool, method, technique, and system design and testing are common jobs.

Roles and Responsibilities:

• Conduct an evaluation of current manufacturing processes and workflows to identify areas in need of improvement.
• Apply knowledge of product design and assembly to optimize the manufacturing process.
• Create processes and procedures that align with budgetary goals and performance quotas.
• Collaborate with the creative team to design and develop new products and create product mock-ups.
• Actively participate in brainstorming sessions and cross-departmental meetings to ensure effective collaboration and cohesion.
• Establish a streamlined work sequence to enhance efficiency and productivity.
• Generate innovative solutions to address existing manufacturing problems.
• Develop standardized design criteria to be implemented across all product lines.

You must be knowledgeable about the processes used in tool design and production. Project management expertise, a commitment to quality, and familiarity with safety and environmental regulations are further qualities that manufacturing engineers must possess.

5. Electrical Engineer

National average salary: $88,171 per year

An Electrical Engineer, also known as a Power Engineer, is an expert who engages in the design, creation, and upkeep of electrical systems and devices. Electrical engineering positions are among the most paid career options, and the capital goods is one sector where you will find these kinds of openings.

Roles and Responsibilities:

• Designing and evaluating electrical systems and components.
• Performing tests to ensure compliance with safety standards.
• Identifying and resolving technical problems during the installation and maintenance of electrical systems.
• Documenting testing procedures and specifications for electrical components and systems.
• Keeping up to date with industry regulations and advancements in technology.
• Providing training and guidance to junior engineers and technicians.

Problem-solving skills and electrical circuit knowledge are required to apply for this job.

6. Research and Development Manager

National average salary: $117,507 per year

Managers of research and development (R&D) coordinate research projects and create knowledge-based products for a business. They create research programs that consider recent advances to enhance present products and investigate the possibility of new ones.

Roles and Responsibilities:

• Gain understanding of customer expectations for future product manufacturing.
• Identify and implement enhanced technologies utilized by suppliers, competitors, and customers.
• Assist Director in recruiting and nurturing R&D staff.
• Collaborate with Marketing and Operations to establish project objectives and priorities.
• Facilitate the transfer of new technologies, products, and manufacturing processes into and out of the company.
• Conduct research, design, and evaluation of materials, assemblies, processes, and equipment.
• Recommend training resources to improve employee performance and skill development.
• Monitor team progress and objectives to ensure goal attainment.

Essential research and development skills encompass the abilities to analyze data, solve problems, and communicate effectively.

7. Software Developer

National average salary: $120,730 per year

If you ask – how many jobs are available in capital goods – this role should be an ideal option. A developer is responsible for the creation of computer programs that power a variety of devices. They need to stay up to date with customer needs and develop applications, taking into account user feedback. They have to find practical solutions for several minor but significant challenges as they go along.

Roles and Responsibilities:

• Create and deploy new software applications.
• Enhance and optimize the performance of current software systems.
• Maintain open and effective communication with both management and technical support teams.
• Design and update software databases.
• Conduct thorough testing and maintenance of software products to ensure their functionality and performance.
• Provide recommendations for enhancing existing software programs when needed.

Problem-solving is one of the most crucial abilities software engineers must have and hone as they advance in their professions.

8. Business Development Manager

National average salary: $80,912 per year

A business development manager assists organizations to improve their reputation and overall profitability. They are in charge of assisting the company’s development and growth, putting a lot of effort into internal business. Through networking and research, they can find new clients, pinpoint potential markets, and oversee the creation of new products while predicting sales and comparing expected revenues to planned targets.

Roles and Responsibilities:

• Conduct research on potential accounts in specific markets, identifying leads and actively working towards securing successful agreements.
• Gain comprehensive knowledge of target markets, including industry trends, companies, projects, key contacts, and effective marketing strategies to attract clients.
• Collaborate with design and sales teams to ensure the fulfillment of client requirements.
• Foster and maintain relationships with existing clients while identifying new prospects within the assigned area.
• Possess a deep understanding of our products, as well as our competitors in the industry, in order to effectively position our offerings.
• Stay informed about the latest industry developments and remain updated on competitors’ activities.

Customer-service skills, analytical skills, and creativity are three frequently encountered soft skills in the role of a business development manager.

9. Industrial Architect

National average salary: $95,607 per year

An architect creates the house’s design before construction begins on a plot of undeveloped land. Similarly, it would be best to employ an architect competent in industrial design to construct a factory or any other building needed for production. They are highly sought after since they are essential to ensure that companies are as efficient as possible through meticulous design and spacing.

Roles and Responsibilities:

• Collaborate with clients, engineers, and contractors to understand project requirements and develop a design brief.
• Develop design concepts and create detailed building layout plans, elevations, and specifications using CAD software.
• Design storage areas, loading docks, and truck traffic flow patterns for efficient operations.
• Review and approve shop drawings and submittals from contractors and suppliers.
• Ensure ergonomic design with proper ventilation and lighting for a safe and comfortable working environment.
• Select appropriate materials, finishes, equipment, and fixtures considering cost, durability, and functionality.
• Research new materials, technologies, and building techniques to improve efficiency and safety in industrial facilities.

To excel in architecture, a strong understanding of mathematical principles, including geometry and advanced algebra, is crucial. Additionally, creative skills play a significant role in this field.

10. Quality Control Inspector

National average salary: $44,995 per year

This is another good job position if you ask – how many jobs are available in capital goods. It cannot be emphasized how important a quality control manager is to ensure that capital products are converted into valuable things like consumer goods. They are responsible for conducting tests, analyzing measurements, and supervising production processes, and are commonly referred to as quality control inspectors.

Roles and Responsibilities:

• Inspect raw materials to guarantee consistency and integrity.
• Maintain, test, and troubleshoot all instrumentation devices.
• Evaluate and attempt repairs on damaged products to identify optimal repair strategies.
• Conduct product testing following industry standards, sampling a certain percentage of all products.
• Immediately report any problems or concerns to senior management.
• Oversee the quality assurance division and ensure employees meet their quotas.
• Provide training and support to the QA team.
• Develop an efficient testing protocol applicable to all product lines.

In order to excel as a Quality Control Inspector, it is crucial to possess robust analytical and problem-solving abilities, keen attention to detail, and a comprehensive comprehension of industry-specific standards and regulations.

A variety of different programs and trade associations provide certification in quality control. They are issued by two standards bodies- the American Society for Quality and the British Standards Institute.

11. Logistics Coordinator

National average salary: $42,194 per year

A logistics coordinator is responsible for managing the transportation of equipment and materials between different locations. Their tasks involve coordinating shipments, monitoring inventory levels, and overseeing transportation schedules.

Roles and Responsibilities:

• Effectively handle maintenance, preparation, and routing of purchase orders.
• Create precise bills of lading to ensure accurate documentation.
• Promptly fulfill air bills to meet deadlines.
• Maintain communication with van lines and airlines to ensure timely pick-up and delivery of shipments.
• Arrange for same-day deliveries whenever feasible.
• Thoroughly review purchase orders and shipment contents before releasing them from our facility.
• Monitor and analyze mis-shipments to prevent future occurrences.
• Address customer inquiries and direct clients to the appropriate channels.
• Uphold high-quality standards for all services and processes within the facility.

The three fundamental soft skills required for a logistics coordinator include effective communication abilities, exceptional customer service skills, and strong organizational capabilities.

12. Engineering Technician

National average salary: $55,836 per year

Engineering technicians offer technical assistance to engineers and other professionals engaged in the creation, advancement, and manufacturing of capital goods. They aid in the design and development of novel products and carry out testing and problem-solving tasks for equipment.

Roles and Responsibilities:

• Collaborating with engineers to develop, construct, and evaluate solutions for diverse technical challenges.
• Examining and adapting existing designs and prototypes.
• Researching, gathering data, and preparing daily reports.
• Utilizing CAD software to create designs and incorporating feedback from engineers.
• Conducting tests, diagnostics, and calibrations.
• Assisting engineers in conducting experiments and investigations.
• Inspecting inventory and initiating material and component reordering.
• Analyzing operations and providing suggestions for enhancement.
• Maintaining records and assisting in presentations.
• Attending conferences and engaging in professional development activities.

Engineering technicians should possess an innate curiosity, a strong work ethic, and excellent interpersonal abilities, making them self-motivated individuals.

13. Machinist

National average salary: $66,925 per year

Machinists are skilled professionals who manufacture precise metal parts and tools utilized in the manufacturing of capital goods. Their responsibilities include the setup and operation of machine tools like lathes and milling machines, as well as the interpretation of technical blueprints and diagrams. They play a crucial role in ensuring the final products meet the required quality standards.

Roles and Responsibilities:

• Analyzing specification charts, samples, and drawings to comprehend requirements thoroughly.
• Formulating an action plan for manufacturing parts based on specifications.
• Measuring and marking raw materials necessary for part production.
• Setting up equipment required for each manufacturing step.
• Operating equipment accurately to execute each step.
• Monitoring the production process and taking action to resolve issues.
• Inspecting finished parts for any flaws or defects.
• Maintaining equipment within the machine shop.

This role requires exceptional coordination and mechanical abilities, as well as a keen focus on detail, precision, and safety. Additionally, strong written and verbal communication skills are essential qualifications for this position.

14. Sales Representative

National average salary: $68,055 per year

If you still think – how many jobs are available in capital goods – then you can consider this position. Sales representatives engage in the promotion and sale of capital goods to businesses and organizations. Their responsibilities include identifying prospective customers, devising sales strategies and tactics, and cultivating customer relationships.

Roles and Responsibilities:

• Greeting and providing assistance to customers during their shopping experience.
• Recommending suitable upsells to ensure customers have all the necessary products.
• Achieving sales quotas on a weekly, monthly, and quarterly basis.
• Acquiring knowledge about products and troubleshooting customer issues.
• Compiling and submitting weekly sales reports to management.
• Assisting team members with transactions whenever required.

This position demands exceptional soft sales skills, including excellent communication, organization, and problem-solving aptitude, alongside a profound understanding of the product, business, and industry from a technical perspective.

15. Project Manager

National average salary: $82,858 per year

Project managers are responsible for supervising the organization, design, and execution of projects associated with the creation and manufacture of capital goods. They possess the ability to recognize possible risks and challenges that might emerge throughout the project and create alternative strategies to tackle them.

Roles and Responsibilities:

• Formulating and refining the project concept.
• Assembling and guiding an exceptional team.
• Setting a clear deadline and tracking project progress.
• Identifying and addressing any challenges that arise.
• Efficiently managing financial resources.
• Ensuring stakeholder satisfaction.
• Evaluating the project’s performance.

A diverse set of abilities is required, encompassing qualities such as leadership, effective communication, efficient time management, adept problem-solving, and strong organizational skills.

16. Computer-Aided Design Technician (or Drafter)

National average salary: $59,782 per year

The initial step in manufacturing any product involves the design phase, which typically involves a collaborative effort among engineers, scientists, and designers. Computer-aided design/drafting (commonly known as CAD) empowers designers to develop and modify conceptual designs, allowing for analysis, review, and testing before initiating the production phase.

Roles and Responsibilities:

• Reviewing blueprints and design drawings in a meeting with engineers, draftsmen, and designers.
• Inputting design specifications into CAD software.
• Generating surface and solid CAD models based on client requirements.
• Collaborating with a design team and working independently on CAD projects.
• Evaluating CAD models with clients and making necessary minor modifications.
• Performing final model rendering and delivering the completed product.
• Compiling job reports to document project completion.

The functions of a CAD technician are of a highly technical nature, requiring proficiency in software and automation processes. CAD training programs, which are sometimes integrated into longer programs, are offered by community colleges and trade schools for durations ranging from 6 to 24 months. These programs utilize software such as AutoCAD to develop designs.

17. Mechanical Engineer

National average salary: $89,993 per year

This is an important role if you ask – how many jobs are available in capital goods. Mechanical engineers play a crucial role in the design, creation, and evaluation of mechanical devices and products. Their expertise is highly valued, and they are in high demand among various industries. By utilizing their understanding of mathematics and physics, mechanical engineers ensure that products are not only safe and functional but also optimized for efficiency.

Roles and Responsibilities:

• Conduct initial and ongoing design reviews.
• Provide documentation that includes a critical analysis and recommendations for correcting errors.
• Identify deficiencies in processes and propose solutions for improvement.
• Prepare a scope of work for each project, including budget estimates and project goals.
• Create CAD project drawings and review drawings from junior team members to ensure accuracy.
• Collaborate with Project Managers to accurately track and account for engineering hours required for different internal projects.

Mechanical engineering encompasses a broad array of technical and interpersonal abilities, such as strong proficiency in mathematics, effective problem-solving capabilities, the capacity to analyze and incorporate data, strong interpersonal and communication skills, and the ability to create computer-aided drawings and designs.

18. Industrial Technician

National average salary: $58,045 per year

This position entails providing assistance to engineers in resolving issues related to manufacturing layout and the overall production process. The United States is expected to have around 6,600 job vacancies for Industrial Technicians each year. Additionally, employment in this field is projected to grow steadily at a rate of 3% between 2021 and 2031. Moreover, this role is known for offering high salaries in the capital goods industry.

Roles and Responsibilities:

• Complete preventive maintenance by installing, repairing, and maintaining machinery and mechanical equipment.
• Observe mechanical devices in operation to identify sources of problems.
• Disassemble machinery and replace defective parts.
• Inspect and measure various instruments to determine changes in part requirements.
• Manage inventories of equipment parts and supplies by checking stock levels and placing orders.
• Train production workers on routine preventive maintenance tasks.
• Provide mechanical maintenance information and address inquiries and requests.
• Compile maintenance reports by collecting, analyzing, and summarizing relevant information and trends.
• Ensure a safe and clean work environment by following procedures, rules, and regulations.

Employers typically seek candidates with essential skills such as effective communication, proficiency in using hand tools, expertise in industrial maintenance, knowledge of pneumatics, and a strong background in preventive maintenance.

19. Robotics Engineer

National average salary: $85,936 per year

A robotics engineer is responsible for designing, prototyping, building, and testing machines. They also maintain the software that controls these machines and conduct research to identify the most cost-effective and safest manufacturing processes for their robotic systems.

Roles and Responsibilities:

• Identify the purposes and goals of robotic applications or machines.
• Complete all stages of design for systems that achieve the stated goals.
• Develop prototypes based on initial designs.
• Conduct quality control and function tests to assess performance.
• Determine the causes of malfunctions and errors.
• Ensure adherence to project timelines and budgetary guidelines throughout the design process.
• Monitor the performance of newly deployed applications and machines.
• Prepare reports, usage instructions, and maintenance guidelines for robotics systems.

Robotic engineers dedicate a significant amount of time to evaluating and resolving issues with robotic equipment. This necessitates a comprehensive understanding of diverse mathematical disciplines such as calculus, geometry, physics, and algebra.

20. Sales Engineer

National average salary: $85,053 per year

If you are asking – how many jobs are available in capital goods – then this is a great opportunity for you. Sales engineers specialize in the sale of scientific and technological products and services to large corporations. It is estimated that there will be approximately 7,000 job opportunities available each year for this position in the United States. Furthermore, there is a projected 6% growth in employment for sales engineers in capital goods from 2021 to 2031.

Roles and Responsibilities:

• Gain in-depth understanding of the technical aspects of our software and its functionalities, as well as the specific problems it addresses for our clients.
• Develop innovative sales and marketing strategies targeting B2B customers, highlighting our products as the optimal solutions for potential clients.
• Effectively manage customer relations by actively seeking and documenting client feedback, and analyzing data obtained through digital channels.
• Generate high-quality sales leads and ensure timely follow-up after initial meetings with prospective clients.
• Identify opportunities for enhancing customer satisfaction and driving repeat business, and communicate these issues and potential solutions to upper management.
• Establish and accomplish sales goals and quotas on a monthly and quarterly basis.

A sales engineer should possess three key soft skills: effective interpersonal abilities, strong problem-solving capabilities, and a confident demeanor.

Blue-Collar Jobs

You now know how many jobs are available in capital goods, especially white-collar jobs. The capital goods business has two sides to it – the production process and the production logistics. In the capital goods industry, there are just as many blue-collar occupations as white-collar ones. As a result, several blue-collar skills are in high demand when it comes to production, and some of them are listed below:

1. Production Employee

National average salary: $41,810 per year

In a factory, a production worker creates products while ensuring efficiency. They are indispensable in the manufacturing industry, since they make sure that goods travel easily from one stage of the production process to the next.

Roles and Responsibilities:

• Operating production equipment.
• Performing maintenance on warehouse machines.
• Assembling machinery parts.
• Storing products and materials.
• Meeting deadlines for individual production tasks during the shift.
• Reporting defective products or machinery.
• Checking stock levels and reporting deficiencies in products or raw materials.

2. Vehicle Driver

National average salary: $62,486 per year

Transportation equipment is categorized as a capital good in the manufacturing cycle. There has been a huge need for people who can drive vehicles for production-related activities, so there are lots of job opportunities here. If you’ve driven trucks or forklifts before, you can find work operating these vehicles for a company. Your search for opportunities in the capital goods industry will benefit significantly from any specific licensing you may have, such as a trucker’s license.

Roles and Responsibilities:

• Providing daily transportation services to clients, ensuring they reach their desired destinations.
• Ensuring the safety and cleanliness of the vehicle used for transportation.
• Utilizing navigation apps to identify and follow the most efficient routes for each trip.

3. Packager

National average salary: $31,506 per year

This is an ideal option if you ask – how many jobs are available in capital goods. These workers bear a significant burden of responsibility. Any error in packaging a shipment could potentially lead to the entire batch expiring or becoming unusable. Similarly, if the packaging of the shipment is inadequate, there is a risk of it getting damaged during transportation to other locations or its intended destinations.

Roles and Responsibilities:

• Package, weigh, and label finished products for shipping or storage.
• Adhere to company guidelines for packaging.
• Recognize and discard defective items.
• Utilize packaging materials, such as hand tools, glues, nails, padding, etc., correctly.
• Maintain comprehensive records of all materials processed in the warehouse.
• Ensure a tidy work environment.

Why do You Consider Working in the Capital Goods Industry?

There are several reasons why job seekers find the capital goods sector attractive:

• Stability: The sector boasts long-standing companies like Caterpillar, Honeywell International, John Deere, and General Electric, which have established a reputation for stability and reliability.
• Entry-level opportunities: The capital goods sector offers numerous entry-level positions, making it an ideal field for starting a career and gaining valuable on-the-job training.
• Growth prospects: With the industry expected to experience rapid growth in the coming years, there is a high anticipation for an increase in job opportunities within the sector.
• Work-life balance: One appealing aspect of working in the capital goods sector is the option to work from home, which allows for more time to be spent with family and loved ones.

Economic Data from the Federal Reserve and the Bureau of Labor Statistics

Approximately 80 job opportunities related to the sector can be considered as part of the capital goods, out of around 1,000 occupations listed in the Bureau of Labor Statistics data on employment levels and expected job opportunities.

According to the Federal Reserve Economic Indicators (FRED), the total value of new orders placed by manufacturers for nondefense capital goods in June 2022 was approximately $74 billion. In comparison, the total value of all manufacturing during that period was around $555 billion. Based on these figures, we can estimate that capital goods account for approximately 13% of the total production. Now you know – how many jobs are available in capital goods.

Also Read: How many Jobs are available in Real Estate Investment Trusts? Full List

How to Find the Best Job in Capital Goods?

If you’re interested in a career in capital goods, public agencies like the Department of Energy and National Institute of Standards and Technology (NIST) are some of the best places to check out. The private sector is another place where you can get jobs in capital goods.

So here is the answer to – how many jobs are available in capital goods and type of jobs available. Find jobs on platforms like LinkedIn or Monster, which may help you locate better employment opportunities. If you’re looking for a high paying job in capital goods, here are a few resources you can check out:

• Utilize online job boards: Start your search by exploring online job boards, where you can filter and search for open positions based on factors such as company, job title, location, and more. These platforms can be a valuable resource for finding lucrative opportunities.
• Monitor business websites: Keep a close watch on the websites of capital goods manufacturers you’re interested in joining. These companies often post job openings on their career pages, and regularly checking these pages will help you stay updated and ensure you don’t miss any new opportunities.
• Engage with professional organizations: Joining a professional organization relevant to your field can offer several benefits. Not only will it allow you to network with professionals from various industries, but it will also keep you informed about the latest job market developments that are relevant to your career. Many professional associations also provide access to exclusive job boards.
• Consider internships: If you’re interested in gaining practical experience in the capital goods industry, applying for internships can be a great option. Many companies consider hiring interns for full-time positions if they perform well during their internship period. This can be an excellent pathway to secure a well-paying job in the industry.
• Utilize college career centers: If you’re a recent graduate or still enrolled in college, take advantage of the career services offered by your institution. College career centers often provide resources and assistance to help students and alumni with their job search. They can offer guidance, job postings, and connections to potential employers in the capital goods sector.

Qualifications Needed to Work in the Capital Goods Sector

The importance of having a bachelor’s degree for employment in the Capital Goods industry depends on the specific job you are aiming for. While some positions, such as forklift operators or machine operators, may not require a college degree, roles in engineering or specialized technical positions typically do require a bachelor’s degree in a relevant field. It is worth noting that having a degree can provide a competitive edge and open up more opportunities for advancement within the industry. As you gain experience and expertise, you can progress to more demanding roles with greater rewards.

Consumer Goods versus Capital Goods

Consumer goods, which encompass finished products designed for everyday use and are commonly found in retail stores like Target or Best Buy, differ from capital goods, which refer to the materials utilized in the production of consumer items. Economists analyze core capital goods to assess the state of an economy and predict the well-being of a country. This term specifically refers to equipment used for producing other goods, excluding military hardware and aircraft. Now you know how many jobs are available in capital goods and why they are important.

Also Read: How many Jobs are available in Consumer Services? Full List

Growth Opportunities in Capital Goods Sector

The FRED database indicates a consistent upward trend in new manufacturing orders for capital goods since April 2020. In June 2022, a record high of approximately 74 billion new orders was recorded.

Forecasts predict a growth rate of 20% in this sector for the coming years. This positive outlook makes the capital goods industry an attractive choice for individuals seeking challenging opportunities and professional achievement, especially considering the expanding population and increasing demand for goods.

As a manager or director in this field, you would have the opportunity to work for a prominent corporation, leading teams, fostering innovative ideas, and contributing to economic growth.

With companies in the capital goods industry investing in new technologies and equipment, job openings are expected to increase. This presents a favorable environment for job seekers, with trade shows, job fairs, and industry events providing convenient avenues for finding employment in this sector. This should answer – how many jobs are available in capital goods.

FAQs

Q1. Is the market for capital goods expanding?

Ans. The Federal Reserve Economic Data database shows that since April 2020, new orders from manufacturers for capital goods have been continuously rising. The number of new orders in June 2022 (the most recent month for which data are available) was roughly $74 billion, a record-breaking amount.

Q2. What sort of funding will be used to create the goods?

Ans. Producing commodities requires capital goods, raw materials, land, and labor. In the world of capital, the funding is usually done through loans and equity.

Q3. What kinds of capital are there?

Ans. Working capital, debt, equity, and trade capital are the four main categories of capital.

Q4. What are the three main production factors?

Ans. Land, labor, and capital goods are the three essential manufacturing components.

Also Read: 18 Best Paying Jobs in Capital Goods to Boost Your Career

Attending events for the capital goods sector can be a great way to determine whether you want a new career or want to explore the kinds of employment. If you’re already on a career path, you can start searching for the job titles you want on the job boards of potential capital goods businesses.

After reading this article, we hope you have got clarity about a career in capital goods industry. This is a large sector with several job opportunities. However, you must acquire the relevant skills to excel in this career, as it is filled with competition due to potential rewards.