A new economic impact study sponsored by the Institute of Scrap Recycling (ISRI) indicates scrap recycling supports more than 500,000 jobs and generates more than $116.97 billion in the U.S annually.
The study, conducted by John Dunham and Associates, found that scrap recycling provides 155,632 direct jobs, 175,587 supplier jobs and 203,287 induced jobs, amounting to 534,506 total jobs with wages averaging $76,515.
In addition to supporting thousands of jobs each year, the scrap recycling industry averages nearly $116.97 billion annually, ranking closely to the hosting, data processing, automotive repair and dental industries.
As more devices are disposed of each year, scrap processors, brokers and buyers will continue to see growth in their businesses, and support thousands of jobs and contribute to overall economic growth.
“The global demand for scrap helps drive the U.S. economy,” Robin Wiener, ISRI president, said in a press release. “Scrap exports alone generate tens of thousands of American jobs and billions of dollars in tax revenue. This makes it that much more important to continue policies of free and fair trade, build and strengthen relationships with overseas partners, and develop new markets. Doing so will not only provide greater opportunity for U.S. recyclers in international markets, but strengthen our economy here at home.”