That's a component, but another component is that manufacturing is being automated (net new or reshored). GM just replaced ~1300 workers with robotics at one of their EV factories.
Manufacturing may come back to the US in some capacity, manufacturing jobs will likely not.
Consumers are not buying expensive things now. Credit card debt is through the roof and defaulting.
That's a component, but another component is that manufacturing is being automated (net new or reshored). GM just replaced ~1300 workers with robotics at one of their EV factories.
Manufacturing may come back to the US in some capacity, manufacturing jobs will likely not.
US manufacturing rises on front-loading of orders, but factory employment tumbles to six-year low - https://www.reuters.com/business/us-manufacturing-rises-fron... - June 23rd, 2026
GM installs robots at flagship EV factory after laying off 1,300 workers - https://arstechnica.com/ai/2026/06/gm-installs-robots-at-fla... - June 22nd, 2026