Companies decided to sink billions of dollars of new investment into manufacturing plants in the U.S. after the CHIPS and Inflation Reduction Act boosted incentives for U.S. production,
Check out that spike in manufacturing plant construction. It dwarfs all prior increases.
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In the last 3.5 years, companies decided to invest over $875 billion in U.S. semiconductor & electronic manufacturing, clean energy, biotech, & other sectors.
But wait there's more...
Pre-pandemic, the manufacturing job openings rate peaked at 3.9 openings per 100 jobs in Nov 2018, then declined for more than a year down to 3.1 just before COVID.
U.S. manufacturing job openings are now at 5.3 per job.
