Jobs

The end of globalization has caused a number of concerns which lead to onshoring in the US. Supply-chain disruptions caused by the COVID-19 pandemic and rising geopolitical tensions are spurring an increasing number of U.S. companies to rethink a longstanding practice of planting all or some of their manufacturing operations in faraway lands, such as China While onshoring isn't a cheaper option it offers improved supply chains, lower shipping cost, faster turnaround times, better quality control and the use of local employees and innovation. Reshoring operations added an estimated 350,000 jobs in the US in 2022, surpassing the previous high of 265,000 the year before. That accounts for 38% of the total 1.6 million jobs added to the US economy from reshoring since 2010, indicating a notable acceleration in the process. It is not just manufacturing jobs. Walmart said it plans to spend an additional $350 billion on products made, assembled or grown in the U.S. over the next decade. In a corporate blog post, Walmart U.S. CEO John Furner said the decision will benefit the environment and the U.S. economy by sourcing goods closer to customers and creating demand for jobs. The coming years will be a great time for young people just coming into the work force.