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| Reshoring American manufacturing could take time and big money. (Photo by Brice Cooper, Unsplash) |
Although a tight labor market explains some of the labor shortage, it's also a product of economic and educational circumstances. Rosalsky explains, "Manufacturers can't fill these jobs overnight because they require workers to have particular skills. And it's not just skills needed to work on assembly lines. . . . Manufacturers also employ people to do research and development, engineering, design, finance. . ."
Politicians typically tout factory work because it can "provide good jobs and career ladders for people without a college education," Rosalsky writes. "However, many manufacturing jobs these days actually require college degrees. . . That said. . . half of the open manufacturing jobs don't require a bachelor's degree. And manufacturers say they are also struggling to fill those."
A fair question manufacturers may need to revisit: Do they pay enough? Higher wages might "convince workers to invest in acquiring coveted skills and enter the manufacturing workforce," Rosalsky adds. "But the higher pay that Americans demand to work in manufacturing is one of the big reasons that many manufacturers left America in the first place."
Oren Cass, the chief economist and founder of American Compass, a conservative think tank, "believes that tariffs can help even the playing field with foreign competitors," Rosalsky reports. "And he stresses that one of the keys to reshoring manufacturing — while maintaining well-paying manufacturing jobs — is higher productivity."
In late April, Trump "issued an executive order aimed at 'preparing Americans for high-paying skilled trade jobs of the future,'" Rosalsky writes.
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