SC Business News is reporting that manufacturing is getting a lot more efficient in the state of South Carolina based upon a new report issued by ETQ.
“The report revealed that South Carolina experienced a 21% decrease in manufacturing jobs from 2020 to 2024, while its real manufacturing GDP grew by 36%. South Carolina shed over 71,000 manufacturing jobs during that timeframe.”
I know we have certainly seen this play out as we regularly get news releases of companies announcing that they are spending a small fortune to open up new operations but I’m always surprise how few the number of employees are that they plan to add. Because of advanced manufacturing techniques and technology, we will build a lot more stuff but with only a fraction of the number of people.
Trump’s plan to bring manufacturing back to the states is great for GDP growth and some employment but it will not be the boost that it once was due to the advances in the manufacturing process for most industries.