Following in the footsteps of companies like Ford Motor Co., Apple computer, NCR, Michelin and others, a growing number of companies nationwide are moving jobs back to the U.S., a new survey from CareerBuilder indicates.
According to the 2014 U.S. Job Forecast, 26 percent of employers nationwide plan to “reshore” jobs this year– bringing offshore jobs back to U.S. – up from 23 percent in 2013. While employers remain cautious in their hiring plans, findings such as this indicate that employers are becoming more optimistic about the job market. “The general sentiment shared by employers we talk to is that there will be a better job market in 2014,” said CareerBuilder CEO Matt Ferguson.
Indeed, if the reshoring trend continues, it could be a major boon for the labor market – and the economy as a whole. The Boston Consulting Group estimates that U.S. manufacturing jobs could bring back $70 billion to $115 billion of export business by 2020, and more companies are beginning to see the cost-saving benefits of reshoring. Though finding skilled talent remains a challenge for employers, re-skilling workers could be a viable solution to closing that skills gap.