Reshoring of U.S. Manufacturing Doubtful: JPM's Glassman

The video discusses the challenges of reshoring manufacturing due to labor shortages, despite rising wages. It highlights how innovation is driving labor productivity, benefiting both businesses and workers. Despite strong economic fundamentals, consumer confidence is low, possibly due to external fears. The video also explores the impact of pandemic-related assistance on labor market participation, suggesting that as benefits wane, more people may return to the workforce.

What is the significance of the excess savings that consumers are sitting on?

What role did government assistance play in the current labor market situation?