U.S. Manufacturing Poised for 250k Job Surge
U.S. manufacturing boom spurred by recent laws promises up to 250,000 new jobs over two years
Promising growth in the U.S. manufacturing sector is on the horizon, with thanks going to the Biden administration's signature bills: the Inflation Reduction Act and the CHIPS and Science Act. Goldman Sachs projects:
- New Jobs: Between 200,000 to 250,000 over the next two years.
- Historical Data: Every $1 million increase in manufacturing construction spending traditionally creates nine jobs.
- Projected Spending: Estimated at around $65 billion over the next two years.
Significantly, Arizona stands out, with around one-third of the total private investment planned here, a nod to significant commitments from giants like TSMC and Intel.