The
manufacturing industry has been a crucial part of the American economy for
decades, providing jobs to millions of workers and contributing to the
country's overall growth. After years of decline and outsourcing, however, the
industry has seen a recent resurgence, with factory jobs making a comeback.
According to a recent report by the
WSJ, last year, U.S. production capacity showed its strongest growth since
2015. Manufacturing employment is up by nearly 800,000 jobs over the past two years,
and the total number stands at 13 million. Despite all this growth, the
manufacturing industry still needs to add about 800,000 more workers, according
to the article.
One of the main drivers of this
resurgence is a renewed focus on domestic production and “reshoring.” Many
American companies recognize the benefits of keeping their production in the
United States, including reduced transportation costs, more control over
quality and supply chain, and the ability to respond more quickly to changes in
demand.
The resurgence of factory jobs is a
testament to the resilience of the industry and its ability to adapt to
changing circumstances. As the United States continues to focus on domestic
production and innovation, the manufacturing sector is well-positioned to play
a significant role in driving economic growth and creating jobs in the future.
1 comment:
I do believe that this trend of "reshoring" jobs back to the US is largely caused by the insane supply chain issues that global production faced during the Covid-19 Pandemic, which allowed firms to realize the benefits of having production occur in the same country, along with the fragility of the globalized supply chain, with even a single failure in a supply chain 'link' causing a catastrohpic mishap with production.
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