Reshoring Initiative Report Shows Positive Job Trends
More than 60,000 manufacturing jobs were brought to the United States by reshoring and Foreign Direct Investment (FDI) combined last year, representing a 400 percent increase since 2003.
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Reshoring Library through Dec. 31, 2014. Note: "Our nearshoring data is almost certainly understated, due to underreporting." - The Reshoring Initiative (Photo extracted from Reshoring Initiative Data Report 2014)
The Reshoring Initiative has published its annual data report on reshoring trends. More than 60,000 manufacturing jobs were brought to the United States by reshoring and Foreign Direct Investment (FDI) combined last year, representing a 400 percent increase since 2003.
With only 30,000 to 50,000 jobs being offshored to other countries last year, the resulting net gain of 10,000 or more jobs per year represents a shift in the right direction. By comparison in 2003, the United States lost net about 140,000 manufacturing jobs per year to offshoring. The steady decrease in the number of jobs lost, capped by a net gain last year, is building confidence that reshoring and FDI are important contributing factors to the country’s manufacturing rebound.
Data for this report comes from the Reshoring Initiative’s Reshoring Library of more than 2,000 published articles, privately submitted reshoring case studies and some other privately documented cases. The report provides data and analysis in 13 different categories ranging from the number of manufacturing jobs lost to offshoring and reasons cited for reshoring to a breakdown of data by industry, country, region and state. It also includes an international summary of cases reshored to other countries
“We publish this data annually to show companies that the trend in manufacturing in the United States is to source domestically,” says Harry Moser, founder and president of the Reshoring Initiative. “With 3 to 4 million manufacturing jobs still off shore, we see huge potential for even more growth and hope this data will motivate more companies to re-evaluate their sourcing and siting decisions.”
Click here to read the complete report.
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