What is Reshoring?
When someone is looking into reshoring, they may wonder if it is an effective decision for United States businesses. Therefore, research is being continually updated to look into its usage.
How relevant has reshoring been in the United States? Reshoring is the returning of jobs to United States soil. According to EPSNews, manufacturing jobs reshored to the United States went up 50% from 2016 to 2017. Since 2010, over 576,000 jobs have returned from offshore areas around the world.
Many individuals choose an industry to work with based on its growth potential. Reshoring gives the United States many opportunities to grow in the manufacturing industry through technological advances and e-commerce. Research from EPSNews shows that there are still over 3-4 million manufacturing jobs in offshore countries leaving the enormous potential for the manufacturing industry.
Is reshoring still growing in 2019? According to EPSNews updates, reshoring is on a small decline since 2018. Trade disputes, inflation, and dysfunction have attributed to slower reshoring rates. However, an estimated 131,000 jobs were added in 2018 from reshoring.
Should I be encouraged by reshoring? Yes, you should. The United States is continuing to reduce regulations, become more environmentally conscious, and growing in sustainability as the years pass by. This is a very exciting growth and potential for reshoring in manufacturing.