There is a change in the direction of jobs. We are now experiencing a “reshoring” of manufacturing jobs back into the U.S..
What is driving the new “reshoring” trend?
It seems that advances in manufacturing technologies are making it more cost-effective or more convenient to operate stateside than in far-flung places overseas.
Automation is again boosting U.S. productivity. This is allowing firms to again do more with fewer employees. So this decreases labor costs, despite the higher pay that American workers earn.
One maker of trash bins that used to employ 80 Chinese factory workers shifted production to a highly automated U.S. factory. Now it needs fewer than 10 Americans for the same output. This along with no overseas shipping costs makes it more economical to manufacture in the U.S. again.