Is the long predicted but never really seen move to reshore US manufacturing actually on the verge of becoming real?
Here is one indicator. US factory construction spend soared in 2022 to $108 billion, from less than $80 billion in 2021, as seen in the chart below.
Source: Wall Street Journal
Some of the construction is coming in the high-tech fields of electric-vehicle batteries and semiconductors, funded in part by billions of dollars in government incentives, which could drop some day.
But we'll take it fo now, as the US Bureau of Labor Statistics says that nearly 800,000 manufacturing jobs were added in the sector over the past two years, to about 13 million total. That kept the percent of production jobs at about 10% of total employment.
Any reaction to our Supply Chain Graphic of the Week? Let us know your thoughts at the Feedback button below.
Your Comments/Feedback
|
