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Re-Made in America: 5M Jobs Are Coming Back, Report Says

While the U.S. unemployment rate hangs high above 8%, manufacturing is one sector of the American economy that has seen substantial jobs growth over the last few years.

President Barack Obama said as much during his interview with 60 Minutes Sunday:

"The month I was sworn into office, we were losing eight hundred thousand jobs a month. We ultimately would lose nine million jobs during the height of that Great Recession. We came in, made some tough decisions....

And because of that we've now had thirty months of job growth, four and a half million new jobs, half a million jobs in manufacturing alone."

Related: THE BIG LIE: "Rich People Create Jobs

According to analysis by the Boston Consulting Group, manufacturing and supporting jobs will continue to grow by 5 million over the next decade. The firm previously projected a gain of 2 to 3 million jobs by 2020.

Hal Sirkin, a BCG senior partner and co-author of the ongoing series entitled "Made in America, Again" joined The Daily Ticker's Aaron Task to discuss the firm's latest findings and the details behind America's comeback.

Related: Foxconn Riots and the Revival of the U.S. Middle Class

What's the main driver behind the rebirth in American manufacturing?

Rising production costs in other industrialized and developing nations, including labor and energy costs, makes manufacturing in the U.S. less expensive for American companies.

Key findings from the report include:

In less than three years, the U.S. will have a cost advantage of 5% to 25% over Germany, Italy, France, the U.K., and Japan in a number of industries, including machinery, chemicals, transportation equipment as well as electrical and appliance equipment.
America's natural gas boom from shale (commonly referred to as "fracking") has provided this country with some of the cheapest natural gas prices around the world. For the forceable future, natural gas prices will remain 50% to 70% cheaper in the U.S. versus Europe and Japan.
Labor costs in other developed economies will be 20% to 45% more expensive compared to the costs of hiring U.S. workers.
The U.S. could grab additional exports from the aforementioned nations to the tune of $130 billion annually.
Average manufacturing costs in China will only be 7% lower compared to in the U.S in 2015.

Related: The Fracking Revolution: More Jobs and Cheaper Energy Are Worth the "Manageable" Risks, Yergin Says

Some companies are already taking advantage of America's low-cost manufacturing environment. The following examples are cited in the BCG report:

Toyota (TM) plans to assemble its Camry models in Kentucky and Sienna minivans in Indiana for export to South Korea. Honda (HMC) and Nissan are also ramping up U.S. production.
Siemens (SI) is building gas turbines for export to the Middle East.
Rolls-Royce recently began producing aircraft engine parts in Virginia.

See the video here
http://finance.yahoo.com/blogs/daily-ticker/made-america-5m-manufacturing-jobs-coming-back-report-123557752.html


Added: Sep-26-2012 Occurred On: Sep-26-2012
By: Tongueboy
In:
Regional News, Other News
Tags: America, coming, back, Jobs, manufacturing, jobs, construction, jobs, housing, coming, back
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  • When you add in the fact that almost every consumer has had their fill of the inferior quality of most Chinese goods, US manufacturing could be coming back.

    Posted Sep-26-2012 By 

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  • I heard it was more like 12 million after Obozo is evicted in November

    Posted Sep-26-2012 By 

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  • I hope to see this happen!

    Posted Sep-26-2012 By 

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  • If someone is predicting a sharp rise in American manufacturing, it means one of three things:

    1) Foreign manufacturing costs rise dramatically, meaning that their economies are coming close to surpassing ours in terms of wealth and salaries for people.

    2) Our economy, particularly the dollar, sinks so much that exporting goods from the U.S. becomes cheap.

    3) The analyst is simply wrong, which means that the rosy prediction is the work either of an ideologue who is trying to shape a rosy pict More..

    Posted Sep-26-2012 By 

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    • @buzzardist There are hidden costs to doing business in China. You have to be a "friend" to a ministry which costs money, freight, increase of inventory, etc.

      The biggest problem is that everyone is moving their manufacturing there and so everyone has to if they want to compete and keep their doors open.

      I would go out of my way and pay more for something built better and built in North America. I think most people would, just how do you market it?

      Posted Sep-26-2012 By 

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    • @davele Easy. "Hey, we're not China, our shit won't break as quickly." BAM, marketing masterstroke.

      Posted Sep-26-2012 By 

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    • @buzzardist

      You've conveniently ignored 1- High energy cost for the likes of Europe and Japan 2- Highly qualified labor force in the US (Top quality stuff).


      .

      Posted Sep-26-2012 By 

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  • Let me just make this lie obvious as fuck to you all.

    "According to analysis by the Boston Consulting Group, manufacturing and supporting jobs will continue to grow by 5 million over the next decade."

    The rabid liberals consider this good news. Sounds good, right? No, it isn't. This breaks down to about 41,000 jobs per month. We need about 200,000 jobs per month just to keep up with population growth and that's only if we ignore the 20 odd million people out of work now. For comparis More..

    Posted Sep-26-2012 By 

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    • @kajidono I might be missing something because I'm multitasking like a mofo, but I think those are estimates of manufacturing jobs, not overall employment.

      Posted Sep-26-2012 By 

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    • @ChumCannon They're bullshit projections off current numbers in a weak attempt to make the left look a bit less like clueless morons. The whole thing is a fluff piece based on bullshit. Basically some reporter sucking his favorite elite leftist cock.

      It does say right there that it's "manufacturing and supporting jobs" so no, it's not just manufacturing jobs alone. Which tells me that they had to throw in some other jobs just to get this weak estimate as "high" as it is. Whi More..

      Posted Sep-26-2012 By 

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    • @kajidono I don't know where to begin........
      That you think ronny rayguns was great or that you think, and I have to laugh very heartily at this, that you think mittens can fill his imaginary shoes???????
      Reganonmics never worked.
      Not for rayguns and not for bush or bushbaby.
      It tripled the debt and did nothing to create REAL jobs.
      I was there.
      I lived through it.
      I moved 1500 miles to find work that wasn't there.
      Of course I have never worked in the service industry and never worked at a food More..

      Posted Sep-26-2012 By 

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    • @Tongueboy Funny, you were saying the same thing before you got your ass handed to you in the last election, speaking of which. I see you learned nothing from that, but no surprise there.

      You have nothing to say about my math? Not one single little thing? At all? Of course you don't. Because everyone knows how to use a calculator and there one built in right in the menu over there. You don't dare. I just busted your ass with simple math that you didn't bother to check before posting this up thi More..

      Posted Sep-26-2012 By 

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    • @Tongueboy I've tried to explain this to him before... He doesnt listen...

      Posted Sep-26-2012 By 

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  • Obama lies. But then Obama always lies.

    Posted Sep-26-2012 By 

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  • Now, if the U.S. goes to war, so all this is wasted,
    it's like losing a race before it even started,
    when you have the greatest chance of winning.

    Posted Sep-26-2012 By 

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  • Service jobs won't make you enough money to own a mortgage. As long as business is weighted down with EPA laws and every kind of regulation on earth, business will be reluctant to create jobs.

    Posted Sep-26-2012 By 

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  • green energy........just saying.....those are jobs that can NEVER be outsourced.......and here in america if it can be outsourced and some bastard can save a dollar by fucking over his neighbor or keeping his cash in an offshore account to pay less income tax you better believe he's gonna, we are all about the easy way.....mortality be damned.

    Posted Sep-26-2012 By 

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  • More re-elect me BS. Don't hold your breath.

    Posted Sep-26-2012 By 

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  • It's a guess on what's going to happen over ten years. But he's right on the issue of costs going up in developing countries like China. And the biggest hit still yet to come is transport costs of imports during peak oil.

    Posted Sep-26-2012 By 

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  • LOFL, and anyone who believes this is stupid.

    Posted Sep-26-2012 By 

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  • She doesn't look anything like any of the guys I have worked with............

    Posted Sep-26-2012 By 

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  • I sure hope like hell this all comes true.

    Posted Sep-26-2012 By 

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  • I'd much rather see the video of the Hottie wearing the toolbag to see how good she is when its time to work on her hammering skills...

    Wouldn't you too?

    Posted Sep-26-2012 By 

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  • She's hired! Good post....

    Posted Sep-26-2012 By 

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  • Well, I don't know if this will actually happen, but all I can say is, I am thankful every day for the stability the military has brought to my life. One for my husband being in the Army, and we don't have to worry about not being able to pay our bills or even health care, and two for employing me as a Army civilian to which is decent paying, and I don't ever have to worry about getting laid off. I'm thankful every minute of everyday.

    Posted Sep-26-2012 By 

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    • @rachelle351
      any remorse for the non Governmental people of America?
      we all know Government employees are fine and dandy,especially if we stay in a Conflict,or proxy war,.
      profits should stay good for the war profiteers too,.
      any remarks for the private sector,.the poor people that can't pay the rent and put food on tables? and buy school clothes,heat the house, on and on and on,.
      must be nice to be in the 47%,
      I was there once,.when I served on a Nuclear powered fast attack submarine,....;)

      Posted Sep-26-2012 By 

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    • @SharkGuy

      I have immense amount of remorse for people who aren't in the same situation as me. I was actually raised very poor. My dad had to work two jobs just to keep food on the table, even then it was mostly top roman, and shit we got at the food bank. Trust me, I was handed nothing and worked for everything. I've worked since I was 16 years old. I just happened to be employed and total security. But yea, I feel bad about those who don't have it like I do. We aren't wealthy by any means, bu More..

      Posted Sep-26-2012 By 

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    • @rachelle351
      Thanks for your service,.and answering my stupid questions,I guess when I read your comment,I was thinking to much about folks that are struggling out here,and wish the private sector was important to this administration as Government employees,.I realize now I directed my question to the wrong person,you seem like a great person,.my apologies,.
      stay well,.
      cheers!

      Posted Sep-26-2012 By 

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    • @SharkGuy

      No hurt feelings!

      Posted Sep-26-2012 By 

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  • Good jobs were dissolved. That's the 1st to go in a recession of this nature. These are higher paying jobs, usually salary jobs. This all happened between 2008-2010 mostly. Then we start to see some job growth. These "new jobs" are not the same higher-paying jobs that were previously lost. These new jobs are more low paying, usually hourly wage jobs. Mostly in service industry and other low-level technical personnel jobs. If anybody tries to pass this off as some sort of recovery, you More..

    Posted Sep-26-2012 By 

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  • all service jobs,.."my I shine your shoes sir",..lol

    when I start seeing foundations dug within a 50 mile radius of me,I will say the economy might be turning around,their is no skilled labor generation going on in America,just professional shoe shining,.

    Posted Sep-26-2012 By 

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