The positive news does come with its own challenges. For example, there is a major shortfall of workers in the manufacturing industry. This is where the American supply chain still has issues. The rise in Chinese worker wages offered some promise of a reshoring incentive, but if there are not enough workers in the United States to even pay at all, production will lag behind. Major companies would do well to invest in the education of Americans in the fields of engineering and programming and help young people develop high-tech skills. They can also offer to pay for the education of their own employees, not just to advance their careers at the company, but anywhere. Those investments would come back as payoffs later.
The government can make changes to address this as well. It needs to make education and training more accessible for everyone. It can offer tax incentives to companies that invest in education. Interest-free loans for students coming out of high school to learn skills specific to manufacturing would sow the seeds for the future success of the economy as those young people would become hirable and contributing members of society.
– Don Buckner