According to data in the latest report from the Reshoring Initiative, the "bleeding of manufacturing jobs to offshore has stopped." The U.S. has gone from losing about 140,000 manufacturing jobs per year to gaining 10,000 or more per year, the report states. While that number represents some gains, the report notes that there are still three to four million manufacturing jobs offshore, which represent "a huge potential for U.S. economic growth."
Growth is what this country needs right now. Today's GDP numbers were worse than anemic at 0.2% for the first quarter. Blame the weather, blame whatever you want to blame, but the numbers speak for themselves when it comes to the U.S. economy. However, the reshoring of manufacturing provides a glimmer of hope.
The Reshoring Initiative parsed the numbers and provides the reasons companies are reshoring, something that is necessary to understand in order to see the big picture and quantify those reasons. The top three positive reasons for Reshoring and Foreign Direct Investment (FDI) cited by 118 companies are government incentives (175 companies cited this reason), skilled workforce (140 companies cited this) and image/brand (Made in USA).