'Manufacturing renaissance' to create millions of US jobs (unemployment, gas prices, wages)
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A new report from the Boston Consulting Group predicts that seven sectors which make up approximately $200 billion worth of goods imported from China will shift work to America by the end of the decade. The change would lower unemployment by 1.5 to 2 percentage point
By around 2015, the report predicts the U.S. will be strong enough to seem more attractive to manufacturers than the currently popular China, thanks to higher productivity and cheaper costs.
Approximately 600,000 to 1 million jobs will come directly through manufacturing work while the rest will come through supporting services, such as construction, transportation and retail.
I hope they are right. The return of manufacturing jobs creates a huge ripple effect through the economy.
One thing I saw that was interesting on a news show was back in '08 when fuel prices last shot through the roof. The transportation costs of even containerized cargo was a very significant factor in product costs, once they were delivered. In a twisted way, high fuel costs helps drive manufacturing back into this country.
Haha way to spoonfeed the typical mainstream kool aid. A big reason why manufacturing left is because those jobs were done by highly skilled well paid middle class Americans. So companies took those jobs to low paid, unskilled Chinese and third world workers. As America becomes more of a third world country i.e. the dissolving middle class into the haves and have nots of course manufacturing is going to come back. No more unions, tons of college grads who can't find jobs, people desperate to work because they can't afford retirement, and the continued influx of illegals from down south = huge boom in manufacturing.
Plus most of the highly skilled manufacturing jobs are already automated. Look at the car industry. Highly automated now compared to even 10 years ago.
I mean you people are real idiots and typical naive Americans if you think all of a sudden manufacturing is going to come back and be what it once was. You can't trust corporations. They don't give a crap about American workers nor American prosperity. Oh yippeee it's a good thing look at all the manufacturing that's coming back.!!!!!!!!!!! HELLO!!!!!!!!!! These corporations are well on their way to exhausting most third world countries and labor markets like China. Countries like China and India are having huge growth in the middle class demographic. I.e. people that are less and less willing to work for slave wages. Now the opposite is happening in America. More and more people willing to work for slave wages.
Let me be the first to call Bull Pucky on this prediction. If our government was incompetent enough to allow (and even encourage) manufacturers to leave our shores to begin with, then I don't trust that it is smart enough to lure them back. Under what track record should we use as evidence that it will pull this massive feat off?
NONE! Our own government opened the doors for manufacturers to leave in the first place! How stupid can it get?!
Let me be the first to call Bull Pucky on this prediction. If our government was incompetent enough to allow (and even encourage) manufacturers to leave our shores to begin with, then I don't trust that it is smart enough to lure them back. Under what track record should we use as evidence that it will pull this massive feat off?
NONE! Our own government opened the doors for manufacturers to leave in the first place!
Manufacturing Employment by the decade:
1971-1980: +8%
1981-1990: -7%
1991-2000: -1%
2001-2010: -32%
Given the trend, I won't bet on it, but I won't dismiss it completely either.
As technology continues to improve, there are going to be less and less jobs for people to do. A complete re-evaluation of Economics (the study of resources, rather than currency) is what it is going to take to get our country back on track. Evolution is taking place. It's gonna be a hell of a year.
In that recent video of the Apple factory in China one could see lots of unqualified people assembling those high-tech devices, seems that automation is not that dominant yet. So maybe some Americans are willing to work like those Chinese, if they are paid and treated well.
One only has to have listen to Steve Jobs on Apple creating its products in US. Even if he wanted to he said it was logistically impossible. Even if the current job growth continues we are on a path to what FED considers full employment by 2050.
A new report from the Boston Consulting Group predicts that seven sectors which make up approximately $200 billion worth of goods imported from China will shift work to America by the end of the decade. The change would lower unemployment by 1.5 to 2 percentage point
By around 2015, the report predicts the U.S. will be strong enough to seem more attractive to manufacturers than the currently popular China, thanks to higher productivity and cheaper costs.
Approximately 600,000 to 1 million jobs will come directly through manufacturing work while the rest will come through supporting services, such as construction, transportation and retail.
Looking better everyday!
I have nothing to compare what they have predicted in the past.
While I hope it is true. Do you have any info on their prediction record?
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