How Is The Fashion Industry Affecting America's Economy

Fashion is seen in the colors, felt in fabrics, heard in the zippers, smelt in fresh leather, and maybe even tasted. Fashion consumes society in subtle ways and is constantly evolving to please the aesthetic eye. It is not just something people wear; fashion is a fierce business. Some may say fashion is a frivolous vanity and serves little function in the country’s economy. Costing $1.2 trillion globally and $250 billion in the United States alone, the fashion industry is nothing to be reckoned with (Maloney). The fashion industry places a large role in the country’s economy by contributing diversity, job opportunities, education, and is widespread across the country. The fashion industry is a major contributor to the American economy because

According to the Joint Economic Committee of the United States Congress, “fashion- and apparel-related industries employ 1.9 million workers, in professions requiring a range of education and skills” (Maloney). 23,000 fashion designers were employed in 2014 (Employment). That is more than double certain therapists and sociologists. The amount of fashion designers doesn’t even include other careers that the fashion industry incorporates, such as lawyers, accountants, and retailers. The bureau of labor statistics breaks up the fashion industry into three categories: manufacturing industry, wholesale merchandising industry, and retailers. The manufacturing industry employed 144,410, merchandising employed 141,410, and retail had 1,449,390 (Employment). Fashion has opened a career path for millions of people that is comprised of a large range of education levels and skill

“Today’s manufacturing jobs include a number of higher-paying occupations. These include market research analysts and marketing specialists, who earn $59,750 annually on average, and computer professionals, who earn $67,110 on average”, says the Joint Economic Committee (Maloney). Aside from the not fashion related occupations mentioned earlier, lawyers and accountants, world famous fashion designers also focus on branding goods and fusing into other industries. “In the 1980s designers such as Calvin Klein and Giorgio Armani built fashion organizations that focused on branded goods, rather than individual fashion collections. Many of the traditional fashion houses merged with other, sometimes unrelated, firms, for example, Versace and Bulgari hotels and Gucci branded cafes” (Davey, Davey, Schneider). Branding itself is a large part stimulating innovation, production, and consumption within brands. That opens a whole other door of marketing, public relations, and graphic