bake - Special Report - May 2023 - 41

FEEDING THE ECONOMY
A group of 25 food and agriculture
groups released the seventh
annual Feeding the Economy
report, revealing that food and
agriculture industries and their
suppliers contribute over $8.6
trillion to the U.S. economy,
nearly one-fifth of total national
output and a 22% increase since
the 2019 report. Providing data
on jobs, wages, and economic
output, this farm-to-fork analysis
illustrates the food and agriculture
sector's impact on local and
nationwide economic activity.
The data also underscores this
sector's resilience and reliability
amid unprecedented global and
domestic crises, including the
commodity shock following the
war in Ukraine and continued
supply chain disruptions.
" This study highlights the
impact the greater food and ag
sector industries have on the
American economy and the
sector's critical role in providing
economic opportunity, nutritional
value, and safe food for all
Americans, " said Eric Dell, president
and chief executive officer
of American Bakers Association.
This year's report shows the
U.S. food and agriculture sector
directly supports nearly 23
million jobs, provides $927 billion
in wages, and is particularly vital
to rural communities across
America. Notably, the 2023
report reveals that the manufacturing
of agricultural products
accounts for nearly one-fifth
of total manufacturing jobs in
the U.S. Overall, more than 46
million jobs are supported across
the food and agriculture supply
chain, increasing nearly 2% since
the 2019 report despite the
economic challenges and disruptions
associated with the global
pandemic.
All 50 states displayed
increased economic output in
the 2023 report compared to the
2022 report, largely reflecting a
rebound in national economic
activity. The largest gains in total
output were from Hawaii (31%),
North Dakota (26%), New York
(23%), Nevada (22%), and Florida
(21%). Key findings from national
data include:
The strength and growth
highlighted in this year's report
reinforce that agriculture is
evolving and innovating to
meet the demands of the 21st
century. According to the U.S.
Bake Magazine Digital Special Report 2 | Volume 4 | bakemag.com
Department of Agriculture,
between 1948 and 2019, land
use for agriculture decreased
by 28% while land productivity
grew nearly four times and labor
productivity grew more than 10
times. In fact, agriculture's total
factor productivity growth rate
is among the highest of U.S.
sectors.
" Agriculture is foundational
to the U.S. economy, reaching
far beyond the farm gate,
supporting over 46 million jobs.
In manufacturing, more than
twice as many Americans are
manufacturing agricultural products
as cars and trucks, " says
Corn Refiners Association president
and chief executive officer
John Bode. " The resilience of
the food and agriculture sector
is clear - all 50 states increased
economic output in the 2023
report. "
" The Feeding the Economy
report has focused on the jobs
and economic activity created
across the food value chain -
from crop inputs to the services
that it takes to put food on the
table, " adds CropLife America
president and chief executive
officer Chris Novak.
41
©ALEXANDER RATHS-STOCK.ADOBE.COM
http://www.bakemag.com
bake - Special Report - May 2023

Table of Contents for the Digital Edition of bake - Special Report - May 2023
