American Manufacturing Jobs Coming Home
Written By: Bob Adelman | Posted: Monday, November 7th, 2011
The press release from the Boston Consulting Group signaled the beginning of the American renaissance in manufacturing as cost advantages of China are fading rapidly and companies are beginning to repatriate their jobs back home. There are seven industrial sectors that could create two to three million jobs over the next five years as American manufacturers do the new math. As explained by Harold Sirkin, one of the three authors of Made in American, Again: "A surprising amount of work that rushed to China over the past decade could soon start to come back - and the economic impact could be significant. We're on record predicting a U.S. manufacturing renaissance starting by around 2015."
The seven industry groups which could enjoy the most significant benefits are transportation goods, electrical equipment and appliances, furniture, plastics, rubber products, machinery, and computers. The resultant sea-change by repatriating jobs in these industries would be massive, potentially adding $100 billion to America's GDP, while reducing oil consumption due to lower transportation costs.
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