Despite losing millions of jobs over the last decade to automation and offshoring, the American manufacturing industry is making a comeback. In fact — according to a new infographic by Cutting Tool Engineering — the U.S. is producing up to 12 percent of the country's gross domestic product. This is about the same as what was produced in 1960, however at a rate of three times the productivity as in 1978.
Advancements in automation and manufacturing may have caused some jobs to be lost, but the changing industry is also expecting to need 3.5 million new workers by 2027. These workers will need to be skilled in advanced machinery. You can see these needs are already having an impact in the education level of the manufacturing workforce — the number of workers with a graduate degree has increased 32 percent.
Check out more statistics in the Cutting Tool Engineering infographic below.