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How An Economic Developer Is Bringing Factory Jobs Back to Mississippi

60 Minutes
By Bill Whitaker

December 4, 2016

The following script is from “The Golden Triangle,” which aired on Dec. 4, 2016. Bill Whitaker is the correspondent. Marc Lieberman and Michael Kaplan, producer.

This past week, Donald Trump cut his first deal as president-elect. He leaned on Carrier, the heating and air conditioning company, to keep 1,000 jobs in Indiana from going to Mexico. The company got a generous tax break in return. In the last few decades, America has lost millions of factory jobs offshore. But you might be surprised to learn U.S. manufacturing is showing signs of coming back due to cheap energy, proximity to customers, and a rising cost of labor in China. Nearly a million manufacturing jobs have been created since the Great Recession. About 350,000 are unfilled because factories can’t find properly trained American workers. The new plants demand more brainpower than brawn. It’s called advanced manufacturing and if you want to see what it looks like you need to go a place off the beaten track: The Golden Triangle. That’s a bit of a misnomer because it’s one of the poorest regions in the poorest state: Mississippi.

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The world would be $1.1 trillion richer if it treated its young people more like Germany does

Quartz
By Eshe Nelson

October 25, 2016

Just 10% of people aged 20-24 are out of work or not in school in Germany. As befits Germany’s reputation for efficiency and industrial success, this is one of the lowest levels in the world. If all 35 OECD countries reduced youth unemployment to German levels, the economic gain would be $1.1 trillion, according to a study by PricewaterhouseCoopers.

Switzerland ranks top in PwC’s “Young Workers Index,” which compares eight different measures of employment and education. Germany comes second. The US is number 10 on the list and the UK is 21st. Southern Europeans have fared the worst, showing the long-lasting impact that the financial crisis and European debt crisis have had on young people there. Italy came in last on the index, where 35% neither have jobs nor are in school. If Italy improved to Germany’s level, its GDP could increase by $156 billion, the report said. A separate report published last week showed that one in 10 Italians under 34 are living in poverty.

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