If Wal-Mart Can’t Bring Manufacturing Back to America ….
by Bill Hayes
In If Wal-Mart Can’t Bring Manufacturing Back to America …., Bloomberg Businessweek looks at why the retailer’s efforts to spend more on goods made in the U.S. has not created many U.S. jobs.
[W]hen Wal-Mart announced in 2013 it would spend an extra $250 billion over 10 years on domestically produced goods, it also estimated that the shift would create 250,000 manufacturing jobs. The return so far is a fraction of that ….
“If you bring back a plant you aren’t going to bring back 100 or 200 people, you will want to automate it so it costs less,” said Gregory Daco, head of U.S. macroeconomics at Oxford Economics. “If you do that, there is really no direct benefit for potential employees.” [more]