Home > Manufacturing jobs returning to US

Manufacturing jobs returning to US

article image

The US is now importing as many manufacturing jobs as it is exporting, according to a US not-for-profit group.

The Wall Street Journal reports that, according to the Chicago-based Reshoring Initiative, 2013 marked a change in the tendency for jobs to head overseas.

During that year, about 40,000 manufacturing jobs moved abroad, but for the same time period, 40,000 also came back to the US. In contrast, back in 2003, around 150,000 factory jobs went abroad, but only 2,000 jobs came back.

As The Guardian reports, according to financial data firm Markit's preliminary US Manufacturing Purchasing Managers Index (PMI), in June the US manufacturing sector grew at its fastest rate in four years.

The preliminary PMI for June of 57.5 was above economists' expectations of 56.5. (Figures above 50 represent expansion in the industry, while figures under 50 represent contraction).

Commenting on the result, Chris Williamson, chief economist at Markit said, "The strong reading also rounds off the best quarter for factories for four years, adding to indications that the US economy rebounded strongly in the second quarter from the weather-related weakness seen at the start of the year."

Newsletter sign-up

The latest products and news delivered to your inbox