Photo: Uwe Herman via flickr
Try taking your everyday shopping trip to your nearest department or grocery store and buy only American.A little difficult? Employment in America’s manufacturing sector has experienced a precipitous decline in recent years.
The U.S. lost 33.1 per cent of its manufacturing jobs between 2000-2010, according to the Information Technology & Innovation Foundation.
Many of those jobs ended up going to countries such as China, India and Brazil that provide cheaper labour and have looser employment regulations.
But because costs of labour and energy are now on the rise overseas, manufacturing may be in the early stages of a rebound in the U.S. An April study by the Boston Consulting Group found that a third of manufacturers with revenue over $1 billion were considering moving jobs back to the United States.
“At 58 cents an hour, bringing manufacturing back was impossible, but at $3 to $6 an hour, where wages are today in coastal China, all of a sudden the equation changes,” Harold L. Sirkin, a managing director at BCG told The New York Times.
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