US companies returning jobs to America

 Washington Examiner:

U.S. businesses are on pace to bring back a record number of jobs from overseas this year.

Nearly 350,000 jobs are expected to return to U.S. soil, according to reported estimates from the Reshoring Initiative, which would add to the more than 1.3 million total jobs brought back since 2010.

...

“We think it’ll be a long-term trend,” Jill Carey Hall, U.S. equity strategist at Bank of America Corp, told the Wall Street Journal, noting that before the pandemic, there was a small uptick. “But obviously COVID was one big trend and you’ve seen a continued big jump up this year.”

Russia’s months-long invasion of Ukraine and rising tensions between China and Taiwan are also motivating factors.

...

A concern for companies seeking to return to the U.S. has increased spending on paying employees.

“There’s no question that companies, when they bring jobs back, they know they’re going to be paying three to five times as much for labor,” said Reshoring Initiative founder and President Harry Moser. “Therefore, they have to automate.”

North American companies are on pace to set a new record with 11,595 robots ordered in the first quarter of 2022, according to the Association for Advancing Automation.

...

While the labor costs may go up there will be some savings in the shipping cost of getting the goods to market. 

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t...
Read more

Is the F-35 obsolete?

Headline USA: Pentagon Fires Back after Musk Calls Its Most Expensive Project ‘Obsolete’ 'Yeah, as I'm sure you can appreciate, Mr. Musk is, currently, a private citizen, I'm not going to make any comments about what a private citizen may have to say about the F-35....'   ... ... Drones appear to be replacing jets for many operations.  The Russia-Ukraine war is an example of that.  Drones are often hard to detect and can be used for intelligence operations as well as for attacking enemy targets.  It would not surprise me to see drones engaging other drones in combat.  They also cost much less than manned fighters.  
Read more