Making it in America: Manufacturing Industries Coming Home Again
Make no mistake: Manufacturing is still big business in America. By some measures, it is bigger than ever. Exports of U.S.-manufactured goods has quadrupled over the last 25 years.
RESHORING VS. OFFSHORING IN U.S. MANUFACTURING
Offshoring—when companies hire workers abroad, rather than here in America—is often cited as the main reason for the decline of jobs in US manufacturing; however, a recent study from the Global Supply Chain Benchmark Consortium shows that the effect of globalization on U.S. manufacturing is much more complex. While some manufacturers continue to look for savings on labor in Asia and other parts of the world, there are companies bringing manufacturing jobs back to America –or reshoring.
Continue to full article…