https://fred.stlouisfed.org/series/OUTMS
By output, U.S. manufacturing has had a steady upwards trend, interrupted (as you would expect) by recessions. It's just that the jobs left. The narrative that manufacturing as a whole went overseas isn't really true; it's more that labor-intensive manufacturing industries moved overseas, while automated manufacturing industries (or final assembly plants) sprung up in the U.S.
I've been in industry for almost 30 years. All the companies I've worked for were US owned and US based and they all did manufacturing of some sort. Including my little side-businesses.
Yes. Low-margin consumer goods like cheap toys & appliances went overseas. But cars, heavy trucks & coaches, specialty tools and industrial equipment, medical devices, high-end office machinery, manufacturing machines (heh), industrial electronics, robots, are all being made in the US.
An earlier comment alluded to labor-intensive manufacturing going offshore. I'd qualify that as "low-skill" labor intensive manufacturing. At my last job, my office was directly above the manufacturing floor and that assembly was very labor-intensive and definitely not low skill in terms of "pick up doll's body in left hand, head in right hand and plug head into body" .
[1] http://www.nytimes.com/2013/09/20/business/us-textile-factor...
Broadcom and Intel still manufacturer chips in the US but the laptops it's packaged in is still shipping from China.
So the other line has to keep being stated, because it needs to be known that bringing back "manufacturing" isn't going to solve the employment problem for those people, and more needs to be done.
(I kept putting manufacturing in quotes, because those that tend to talk about bringing it back generally downplay the fact that manufacturing output in the US is at an all time high.)
So, yes, it is basically true, but it is also misleading. The jobs aren't coming back to China, either, or anywhere else. And this isn't new at all: https://www.youtube.com/watch?v=sT6aphdX0rI