The manufacturing jobs once thought to be lost to China and India are slowly making a comeback in the United States, though they’re in different specialties than originally thought. Last week, employers representing the private sector, education and government came together to talk about the future of jobs in America, and the message was hopeful, but not without caveats.
“The structural cost disadvantage isn’t about employee costs; it’s about corporate tax rates imposed by government. It is a general misconception that manufacturers are chasing cheap labor overseas, they’re just moving to market and becoming global companies,” said Emily DeRocco, senior vice president of the National Association of Manufacturers at the General Electric American Competitiveness: What Works conference in Washington, D.C. Many companies had struggled with turnover rates at foreign sites and according to Boston Consulting Group, Chinese labor costs are rising about 15% to 20% a year. That can be enough to bring jobs back.
