Record Number of Manufacturing Jobs Returning to America | Marketwatch

America Flips the Script on Outsourcing of Manufacturing Jobs

http://www.marketwatch.com/story/us-flips-the-script-on-jobs-reshoring-finally-outpaced-offshoring-in-2014-2015-05-01

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"Made in the U.S.A. is hot again, and the number of manufacturing jobs that are returning to the U.S. — or coming to the U.S. for the first time — from overseas has hit a record level.

Sixty thousand manufacturing jobs were added in the U.S. in 2014, versus 12,000 in 2003, either through so-called reshoring, in which American companies bring jobs back to the U.S., or foreign direct investment, in which foreign companies move production to the U.S., according to a study from the Reshoring Initiative. In contrast, as many as 50,000 jobs were “offshored” last year, a decline from about 150,000 in 2003.

Why is this significant? 2014’s net increase of at least 10,000 jobs was the first net gain in at least 20 years, Harry Moser, the Reshoring Initiative’s founder and president, told MarketWatch. “The trend in manufacturing in the U.S. is to source domestically,” Moser said. “With 3 [million] to 4 million manufacturing jobs still offshore, we see huge potential for even more growth.”

One big catalyst behind the trend: Escalating wages in traditionally lower-cost countries, including China, have pushed companies to reconsider sourcing strategies."