Number of U.S. Manufacturing Jobs Expected to Increase

The number of manufacturing jobs in the U.S. is expected to grow by 5 million over the next decade if certain trends continue, according to Hal Sirkin of Boston Consulting Group.

Appearing on “The Daily Ticker” Sept. 25, Sirkin said that rising production costs in other industrialized nations are making manufacturing in the U.S. increasingly attractive.

An ongoing study produced by Boston Consulting Group and titled “Made in America” reveal several factors likely to spur a resurgence in domestic manufacturing:

  • The U.S. is expected to gain a cost advantage over Germany, Italy, France, the U.K., and Japan in several industries, including machinery, transportation equipment, and electrical and appliance equipment.
  • The U.S.’s natural gas boom has provided the nation with some of the cheapest natural gas prices in the world.
  • Labor costs in other countries are expected to rise 20% to 45%.
  • Manufacturing costs in China are expected to be only 7% lower than costs in the U.S. by 2015.

Already, new plants in the U.S. are either in operation or being planned by the likes of Toyota, Siemens, and Rolls-Royce.

Advertisements

No comments yet... Be the first to leave a reply!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: