Skip to main content

Reshoring still more myth than reality

Although it has been a priority for the last three administrations, the reshoring of lost manufacturing jobs remains more myth than reality. There has been a significant boom in the construction of hi-tech manufacturing plants, which has begun to translate into a surge in hi-tech output too. The CHIPS Act and Inflation Reduction Act, both passed in late-Summer 2022, have undoubtedly played a role in that resurgence. Up to now at least, however, the rise in hi-tech manufacturing employment has been very limited. Moreover, since these sectors are relatively small, the hi-tech surge will do little to boost overall manufacturing output, let alone economy-wide GDP.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services

Get access