Is Manufacturing A Source For Future Jobs? [VIDEO]
According to one estimate by the Boston Consulting Group, as many as 5 million more positions could be recovered by 2020 due, in part, to Chinese labor becoming more expensive and less productive than the American workforce. (This figure includes service-related positions, such as plant janitors and accountants.)
"We're watching wages rise 15 to 20 percent a year in China," Hal Sirkin, a senior partner with the Boston Consulting Group tells AOL Jobs' Lunchtime Live Series on Friday. "Sometime in around 2015, when you factor in all other costs like transportation... the cost to manufacturers of some of the goods will be almost the same in the US."
Not everyone is as bullish. Economic analysts question whether these jobs are capable of providing for middle-class families the way old manufacturing jobs did. And a new report by Goldman Sachs, as was reported by the Washington Post, argues that any bounce-back from the financial crisis is really the natural flow of the market, and has nothing to do with a true jobs boom.
So what's really going on with manufacturing? AOL Jobs hosted its Lunchtime Live series on Friday and was joined by AOL Autos editor-in-chief David Kiley, Travis Parman, of Nissan North America, and Sirkin.
Check out the highlights below, or watch the entire Hangout on AOL Jobs' YouTube channel.
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Dan Fastenberg has more than a decade of experience working as a journalist. Most recently he was a reporter with TIME Magazine covering politics with analyst Mark Halperin. Previously, he was a writer for the Thomson Reuters news service's Latin America desk. He was also a reporter and associate editor for the Buenos Aires Herald while living in South America. Follow Dan on Twitter. Email Dan at firstname.lastname@example.org. Add Dan to your Google+ circles.more...