Waste management is a necessary component of human life. Even from the very beginning, humans have managed their waste in one way or another. Not every method has been efficient, or healthy for that matter, but it has always been done because it must. Because of that, the waste management industry will always have a place in society.
Waste Industry Facts
56% of the organizations that manage solid waste are public sector entities.
In many communities, waste management is considered a utility cost. In other words, the local government operates the facilities in some way and the costs for this operation are handled through a monthly or quarterly billing process, through tax levies, or both. Some communities have stayed out of this industry, however, because they can’t support the costs or don’t have the expertise to do so. In these areas, private companies have stepped in to handle the waste.
Essential Facts About Waste Management
1. Only 0.2% of the private companies that handle solid waste are publicly traded organizations.
2. Even though private companies make up just 44% of the total operational capacity of the waste management industry, they employ 75% of the workers within this field.
3. In the last major study of revenues generated within this industry, it was found that over $40 billion was generated annually.
Takeaway: The waste management industry is likely one of the least popular industries there is. Despite that, there are good, high paying jobs that can be found within this industry. There are often complaints about government overspending on public services, so having private companies employ 3 out of every 4 workers in this industry while having a minority stake in the field is an interesting counter-argument to government waste.
Additional Waste Management Statistics
1. The private sector accounts for 75% of the total revenues within the waste management industry.
2. Publicly traded waste management organizations had the highest compensation rates for employees in this industry.
3. The total payroll for this industry exceeds $10 billion.
4. Even though publicly traded organizations make up less than 1% of the total presence within the industry, these companies own 12% of the waste management facilities that are in operation today.
5. The most common form of waste management is still a landfill.
Takeaway: The statistics in waste management show that we’ve still got a long way to go when it comes to managing how we live. Throwing a bunch of trash into the ground and then covering it might work for some waste, but it can take over 1,000 years for other forms of waste to be capitalized. It just isn’t efficient, but because it is profitable, it is still done. Other forms of waste management, including recycling, would become more popular if there was greater profitability in those markets.