Atlanta Federal Reserve Bank President Dennis Lockhart said recently that higher productivity is needed to help retain high-end manufacturing jobs in the United States and even reverse some of the forces of outsourcing.
In a panel discussion on the regional economy at the Southern Governors' Association annual meeting, Lockhart said some companies had found that producing quality goods was not always compatible with seeking out the lowest cost of labor.
St. Louis Fed President William Poole went further and said that governments and businesses needed to help with a transition that shifts Americans to higher-skilled jobs.
... and you thought the USA was a high-skill economy!
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