Is Manufacturing A Source For Future Jobs? [VIDEO]

Manufacturing jobs are on the rebound. The American recovery from the financial crisis is far from complete. The official national unemployment rate stands at 7.7 percent, as of February. But there are surprising signs of recovery, many of them in the manufacturing sector. What had been written off as the "sick man" of the U.S. economy is now a sector primed for a recovery, analysts say.

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.
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More: Top 10 Jobs Of The 21st Century


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.


Lunchtime Live - Manufacturing Jobs

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This is a very well written article!

March 29 2013 at 10:57 PM Report abuse rate up rate down Reply

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