Manufacturing executives have been losing sleep over the worker shortage for a few years. The situation only continues to accelerate, however. Today, the worker deficit has begun hitting companies squarely in the bottom line --during the first quarter of 2019 more than 25% manufacturers had to turn down new business opportunities due to a lack of workers, according to a report from the National Association of Manufacturers (NAM).

As the World Economic Forum (WEF) annual meeting continues in Davos, Switzerland, this week, discussions around global trade, the future of advanced manufacturing, and the Fourth Industrial Revolution are at an all-time high. In particular, the popular news media has been making a daily diet talking about the U.S. trade war with China. Unfortunately, they are missing the real story: the potentially profound effects of reshoring on U.S. manufacturing and on the widening skills gap.