Study: GM Boosts Economy

By Staff Writer February 25, 2020

 

A new study from the Center for Automotive Research (CAR) finds that General Motors - the largest automaker in terms of U.S. market share and second-largest in terms of U.S. production volume - is a significant contributor to the U.S. economy, and the economies of the nine states in which GM has manufacturing facilities.

The total employment contribution of GM’s 83,860 jobs is 681,000 jobs in the U.S. economy. With an employment multiplier of 8.1, the company supports an additional 7.1 jobs elsewhere in the economy.

GM’s U.S. employment provides an estimated $51.6 billion in private non-farm earnings and $13.7 billion in government receipts from personal income taxes and contributions for government social insurance and transfer payments.

“General Motors anchors the economies in the nine states where the company manufacturers vehicles, parts, and components,” said Kristin Dziczek, CAR’s vice president of research and lead author of the study, “and GM jobs pay better-than-average wages - boosting the company’s economic contribution even more.”

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Last modified on Thursday, 27 February 2020 21:08

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