The 2024 Feeding the Economy report provides a detailed analysis of agriculture’s economic impact in the United States, highlighting its significant contribution to the country’s economy. This report covers the entire agriculture supply chain, from those who supply farmers to those who consume the products.
According to Roger Cryan, Chief Economist of the American Farm Bureau Federation, the report provides critical information that can be used to advocate for agriculture, particularly when it comes to the farm bill. Cryan emphasizes that this report is a valuable tool for advocating on behalf of agriculture and its importance in providing food and clothing to people across the country.
The report reveals that agriculture contributes more than one-third of the entire U.S. economy, with direct impacts from the food supply chain alone accounting for 24 million jobs, $990 billion in wages, and $3.8 trillion in economic activity. When considering multiplied impacts, these numbers increase dramatically to 49 million jobs, $2.8 trillion in wages, and $9.6 trillion in economic activity.
Cryan highlights that this report underscores the significance of the agricultural economy and its need for strong support from policies such as a farm bill that can help promote its continued growth and success. Overall, this report serves as an essential guide for policymakers and industry leaders looking to understand and advocate for agriculture’s economic impact on America’s economy and society at large.
