Reverse outsourcing could create up to 3 million new jobs in U.S.
Some jobs that were outsourced to China are returning to the United States. At Lincolnton Furniture in North Carolina, owner Bruce Cochrane has reopened a once-shuttered factory and is proud to announce that his company's wood furniture is, once again, made in America. His company has created more than 100 new jobs.
Harold Sirkin of the Boston Consulting Group projects that the shift from manufacturing in China back to the U.S., commonly referred to as 'reverse outsourcing' or 'insourcing,' will have a major impact on employment.
"Our projections are, when you take the manufacturing jobs and then the service jobs that get created alongside those, that we will add two to three million jobs to the U.S. workforce,” Sirkin told NBC's Harry Smith in an interview broadcast Monday night on Rock Center with Brian Williams.
The news provides hope for some Americans that jobs they thought were lost forever might be making the round trip back to the United States.