When was the last time you had the thought that the US was a low-cost manufacturing source? For me, it's been a long while! A key contributor is plentiful new shale gas:
The US has a HUGE advantage in natural gas source pricing, and through this, a large advantage in electricity costs. The combination of efficient, low cost labor and a huge energy cost advantage will lead over time to a very large number of new jobs. So far, not much has happened. BCG estimates this new employment trend will kick into gear in 2015:
Energy production and refining, chemicals, metals, and certain machinery manufacturing will be the industry categories most positively affected.
This is good news for all of us. Manufacturing growth; all activities associated with energy, including big new investments in LNG exports; healthcare reform, where the ACA will put new money into the health of our workforce, and healthcare cost control will become a job driver; and immigration reform, which will unleash enormous new energies and resources in our economy (and will, I predict, happen in 2015) - this is the combination of positives that will move our economy into high gear in 2015-2016.
I find this very exciting and heartening!