Apple to Relaunch Manufacturing in US, Net Result +200 Jobs; Lights Out

From Mish's Global Economic Trend Analysis
December 11, 2012 - 5:19pm
In bits and pieces, manufacturing is returning to the US. Unfortunately, jobs (at least human jobs) are not returning as well. For a case in point, the Fiscal Times reports Apple’s Big Manufacturing Boom to the U.S. — 200 Jobs. At the end of last week, CEO Timothy Cook announced that Apple intends to invest $100 million next year to relaunch part of its manufacturing operations in the US. Apple and Foxconn, the contractor responsible for manufacturing iPhones, iPads and a host of other Apple products in China and other countries, is expanding its existing operations in America to build Mac computers. How many jobs will it create? About 200—a number that wouldn’t even get you noticed in the Fortune 1000. Last year the Boston Consulting Group published a study forecasting a “manufacturing renaissance” in the U.S. as China’s wage rates and currency rise, skilled workers...

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