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America’s Re-shoring of Jobs Is Accelerating
09-27-2013, 08:38 AM #1
Hyperthermal Member
Posts:175 Threads:20 Joined:Sep 2013
More than half of 200 U.S. companies with sales greater than $1 billion are moving jobs back to the United States, or are planning to, within the next two years. The announcement by Boston Consulting Group (BCG) on Tuesday confirms a subterranean paradigm shift that’s been underway for at least two years. Because of rising labor costs in China and elsewhere, the mathematics supporting offshoring of former American jobs has drastically changed for the worse, according to Harold Sirkin, senior partner at BCG:

Over the past couple of years, we’ve projected an improvement in U.S. manufacturing competitiveness by 2015 that would help drive an American manufacturing revival. The results of our latest survey make clear that a profound shift in attitude is beginning.

When you look at the total cost of production for many goods, the U.S. appears increasingly attractive.

The impact is likely to be enormous. A report released by BCG in August predicted that between 2 million and 5 million new jobs would be created in U.S. manufacturing before the end of the decade, less than seven years from now. This is estimated to bring down the unemployment rate by between two and three full percentage points.

In that August report, it was noted that the shift has already begun but without media fanfare. Since 2005, U.S. exports have been growing more than seven times faster than the country’s economy as a whole. In fact, exports from the United States are now at their highest point in 50 years, according to BCG. And this is just the beginning.

09-27-2013, 10:18 AM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,185 Threads:1,485 Joined:Feb 2011
This is the first I've heard of this. From MSM info, I thought manufacturing was dead in the US.
Great find HT! hi5.gif beercheer.gif


09-27-2013, 06:04 PM #3
UniqueStranger Art in my heart
Posts:14,877 Threads:444 Joined:Jun 2012
The problem still remains that Western governments have done extensive damage to retirees' nest eggs and now they are forced to work during retirement, thus leaving high percentages of the younger workers unable to find secure permanent work.
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09-27-2013, 07:02 PM #4
Anonymous Kritter Incognito Anonymous
Meet Frida

I would hazard a guess that more and more jobs that are coming back will be automated at home. Cheaper distribution costs instead of having to send goods overseas,taxes,etc. Foxconn are planning on using over a million of these in their Chinese factories.
09-27-2013, 07:04 PM #5
Hyperthermal Member
Posts:175 Threads:20 Joined:Sep 2013
I remember reading about this several months ago and dismissed it as elite propaganda. Now I'm hearing about again and the phenomenon seems to be gaining momentum. It does make sense from a macro economic level. Overseas wages have risen steadily as US wages have stagnated and it seems now a point of equalization has been reached.

Unique makes a good point. The good news is tempered by the probability that it may be too little too late.



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