Washington, D.C. – In conjunction with National Ag Day, the American Bakers Association (ABA) and 31 other food and agriculture organizations released the eighth annual Feeding the Economy report.
This comprehensive study reveals that the food and agriculture industries contribute more than $9.6 trillion to the U.S. economy, which accounts for 20% of the nation's total output. This sector directly supports nearly 24 million jobs, representing more than 15% of U.S. employment. Since the 2023 report, the economic output of these industries has grown by more than a trillion dollars.
Eric Dell, President and CEO of the American Bakers Association, emphasized the importance of the findings, stating, "The Feeding the Economy report affirms the vital role the food and agriculture sector plays in our nation's economy. It's a testament to the hard work and resilience of everyone involved in this industry, from the farm to the bakery and beyond."
The report provides valuable insights into jobs, wages, and economic output, showcasing the food and agriculture sector's significant impact on local and nationwide economic activity. It also highlights the sector's resilience and reliability amidst ongoing global and domestic challenges, such as supply chain disruptions and the effects of recent international events.
Key findings from the 2024 report include:
- Total employment: 48,665,609 jobs
- Total wages: $2.8 trillion
- Total taxes: $1.3 trillion
- Total exports: $181.4 billion
- Total economic output: $9.6 trillion
The full Feeding the Economy report, along with additional quotes from sponsoring organizations, is available at www.FeedingTheEconomy.com.
About the American Bakers Association
The American Bakers Association (ABA) is the largest, most established, and diverse trade association for the commercial baking industry in the United States. ABA’s community includes more than 300 member companies representing over 1,200 commercial baking facilities and the extensive industry supply chain.
Since 1897, ABA has served as the voice of the baking industry, offering compelling advocacy, insightful thought leadership, and comprehensive research on industry trends. ABA members also benefit from extensive business services including premier networking events, impactful knowledge sharing, and effective workforce development programs and training resources. ABA is committed to enhancing its mission by growing the category and promoting the industry as the destination workplace.
