Manufacturing jobs are coming back from Asia at an apparently quick clip. The Reshoring Initiative has released its 2017 Reshoring Report, which contains data on U.S. reshoring and foreign direct investment (FDI) by companies that have shifted production or sourcing from offshore to the US. The report includes cumulative data from 2010 through 2017, as well as projections for 2018. According to founder Harry Moser, the numbers demonstrate that reshoring and FDI are major contributing factors to the country’s rebounding manufacturing sector.
The report notes that last year, combined reshoring and related FDI announcements surged, adding over 171,000 jobs—up 2,800 percent from 2010. The report also shows upward revisions of 67,000 jobs from prior-year data, bringing the total number of manufacturing jobs brought to the US from offshore to 576,000 since the manufacturing employment low of 2010. The report claims that the 171,000 reshoring and FDI jobs announced equal 90 percent of the 189,000 total manufacturing jobs added in 2017.