Reported 3 months ago
Reviving US manufacturing faces a complex challenge: while wages are high compared to developing countries, they are low relative to other domestic industries, making it hard to attract workers. To restore the manufacturing sector to its former prominence, an estimated 22 million additional workers would be needed, yet there are only 7.2 million unemployed individuals available. High labor costs push manufacturers toward automation, leading to fewer job openings, while lower manufacturing wages hinder recruitment efforts, leaving the industry grappling with labor shortages and changing workforce demands.
Source: YAHOO