Reprint requests are reviewed individually and may be subject to additional fees. Local currencies have been converted to U.S. dollars using the exchange rates as of June 30, 2021. Track the latest short-, medium-, and long-term growth outlooks for 77 economies. Opponents of minimum wage claim that the higher labor costs will increase inflation and force businesses to raise prices (which reduces the purchasing power of the consumer) to make ends meet and/or lay off workers they can no longer afford to pay, which leads to higher unemployment and more poverty. If you are a subscriber to any of the services offered on Our Sites, you may be permitted to use Site Material, according to the terms of your subscription agreement. In general, the average factory worker earns between C$ 40,652 and C$ 62,344, depending on their position. Factory Worker. The use of all TCB data and materials is subject to the Terms of Use. Wages in Manufacturing in the United States increased to 25.93 USD/Hour in January from 25.65 USD/Hour in December of 2022. White label accounts can distribute our data. Manufacturing workers make $31,001 per year on average, or $14.9 per hour, in the United States. 2. International Minimum Wage Rates 2021 - minimum-wage.org. Historical Data (INR/Day) by years Data Period Date 272 2014 21.06.2018 Historical Chart by presidents (INR/Day) Ram Kovind Wages in India by presidents Other labor indicators in India Wages in other countries +52 (777) 319 0511 Read more about the advantages of manufacturing in Mexico. Tons of great salary information on Indeed.com The Trading Economics Application Programming Interface (API) provides direct access to our data. However, this doesn't mean that the actual highest salary in India is only 1.43 Lakhs. In this article, the average wage is adjusted for living expenses "purchasing power parity" (PPP). 48 Sur Centenario #205 (2) Employer social insurance expenditures are legally required, private, and contractual social benefit costs, and labor-related taxes minus subsidies. (214) 202-2072 0000002649 00000 n Are you interested in testing our business solutions? Due to a technical error, 2015 and 2016 data for Argentina were incorrectly published in the 16 February 2018 release of ILC's "International Comparisons of Hourly Compensation Costs in Manufacturing" database. Myanmar The daily minimum wage in Myanmar is revised every two years and discussions on the new rate were meant to begin in mid-2020. Covering all aspects of labor markets, from monthly development to long-term trends. Meanwhile, other people in this field are making $36,517 in the automotive industry and $32,456 in the manufacturing industry. Advanced users can use our Python/R/Matlab packages. Throughout the U.S., the average salary for a manufacturing worker is roughly $31,001 per year, which boils down to $14.9 per hour. Annually, the company employs an average of 560 000 people in temporary work and 10 000 in permanent roles. Average Salary. Use this code to embed the visualisation into your website. 9,773,580. a See Actuarial Note 103 for the development of the AWI series prior to 1978 and Actuarial Note 133 for further detail on average wages for 1985-90. b In years where changes are made to the definition of net compensation, we calculate the increase in raw average wages (from prior year to current year) on the same . Average wages can differ from median wages; for example, the Social Security Administration estimated that the 2020 average wage in the United States was $53,383, while the 2020 median wage was $34,612.[1]. *NEW Please create an account with The Conference Board for complimentary access to all ILC files. You may not reproduce, distribute (in any form including over any local area or other network or service), display, perform, create derivative works of, sell, license, extract for use in a database, or otherwise use any materials (including computer programs and other code) on Our Sites ("Site Material"), except that you may download Site Material in the form of one machine readable copy that you will use only for personal, noncommercial purposes, and only if you do not alter Site Material or remove any trademark, copyright or other notice displayed on the Site Material. A paid subscription is required for full access. What Are The Different Types Of Tube Bending. Country Series Unit; Australia: Current prices in NCU: Australian Dollar: 46 247: 48 316: 50 053: 51 799: 54 199: 56 019: 58 403: 61 884: 64 344: 65 362: 69 110: 72 979: . Trading Economics welcomes candidates from around the world. 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Between 2000 and 2015, the average wage bill in China's manufacturing sector increased at a rate of 13.3 percent, or close to six times the overall inflation rate. 0000010662 00000 n C 248.495.3250 Austin, Texas, is one of the most high-tech specialized cities in the country, with 53.6 percent of manufacturing jobs classified as high-tech compared to the national average of just 16.1 percent. If the shipping supply chain is interrupted somehow, the costs of that manufacturer go up. Indeed.com estimated this salary based on data from 2 employees, users and past and present job ads. Dallas, Texas 75209 Minimum wage relative to mean and median earnings. Data collection on wages and income. Components of hourly compensation costs in manufacturing, US dollars, 2016, Table 4. Latest available data for a fixed period, (3) U.S. dollar changes are approximately equal to national currency changes plus exchange rate changes for each country. Check out what your job is worth or what it would cost you to relocate, Get an in-depth analysis of what your job is worth, Find out about salaries and what different jobs are worth, Compare the cost of living in locations around the world, Check out the cost of living in specific cities, states, or countries. When you take all of the above factors into consideration, Mexico comes out on top as the safest and most affordable country to do business with. 0000000016 00000 n Factoid #35 Looking for Czech and Slovak men? Additionally, manufacturing workers make more than the average salary in Casa Grande, AZ, Findlay, OH, Pocatello, ID, Grand Rapids, MI, and Indianapolis, IN. For example, manufacturing workers make a whopping average salary of $37,170 while working in the transportation industry. If we look back at our nearly five decades of being in business, weve never needed fewer man hours to produce assemblies and components than we do today. Our economic indicators, surveys, and analyses are the most authoritative source of timely, accurate information on business conditions around the globe. trailer Partly, it can be explained by China's cheaper workers: The average hourly wage for Chinese manufacturing workers is less than a tenth that of their average U.S. counterparts, according to the Bureau of Labor Statistics. . You may not use Our Trademarks in connection with any product or service that does not belong to us nor in any manner that is likely to cause confusion among users about whether The Conference Board is the source, sponsor, or endorser of the product or service, nor in any manner that disparages or discredits us. 0000007708 00000 n endstream endobj 2297 0 obj <>/Filter/FlateDecode/Index[108 2156]/Length 66/Size 2264/Type/XRef/W[1 1 1]>>stream (November 29, 2021). This field is for validation purposes and should be left unchanged. At the same time, monitoring the evolution of wages and earnings provides insights into the extent to which workers benefit from gains in productivity. Read more about the advantages of manufacturing in Mexico. Netherlands Manufacturing Hourly Wage Rate increased 2.8% in 2019, compared to a year earlier. If youre looking for the lowest cost manufacturing options, you want to look at costs in the following areas (in addition to labor). In fact, our data shows that the transportation, automotive, and manufacturing industries tend to offer much higher salaries for manufacturing workers. Copy the URL to open this chart with all your selections. Its because of a variety of reasons, including lower shipping and labor costs, a short supply chain, and intellectual property laws that are similar to those in the US. Please create an employee account to be able to mark statistics as favorites. Members of The Conference Board get exclusive access to the full range of products and services that deliver Trusted Insights for What's AheadTM including webcasts, publications, data and analysis, plus discounts to conferences and events. 0000001976 00000 n The average salary range for a Factory Worker is between 16,849 and 25,840. What Does an Assembly/Production Worker Do. Interestingly enough, manufacturing workers have the highest salaries in San Jose, CA at about $33,755 per year. This means that even the average salary of 5,712 . Base. Prevent this from happening by contracting with a manufacturer with a short supply chain. Track the state of the business cycle for 12 global economies across Asia and Europe. Table 1. statistic alerts) please log in with your personal account. The objective of non-discrimination and equal treatment in employment implies that workers should receive equal pay for work of equal value. Average Salary: 28,142. Track the status of job markets across the US through online job listings. The average wage in the world is $470/month. +52 (777) 319 9290 x 121 In the United States, by comparison, the average wage in manufacturing was $24.55 per hour as of January 2022 almost 10 times higher than in Mexico. Minimum relative to average wages of full-time workers. . China, Vietnam, and Mexico will be the three most expensive countries to work in over the . Average annual percent change in hourly compensation costs in manufacturing and exchange rates Table 3. The higher their overhead costs, the more theyll charge you. Manufacturing Cost Is Determined By More Than Labor Rates. 0000005031 00000 n . 02/27/2023 White label accounts can distribute our data. (6) For Austria, ISIC C Manufacturing excludes ISIC 12 Manufacture of tobacco products. In 2019 Netherlands was ranked number 2 in Manufacturing . In some states, the wages are much higher than in others. 0000013179 00000 n (4) Except for Argentina, Japan and Taiwan, data relate to manufacturing as defined by the International Standard Industrial Classification of All Economic Activities (ISIC) Revision 4. Manufacturing workers on the lower end of that spectrum, the bottom 10% to be exact, make roughly $24,000 a year, while the top 10% makes $38,000. 0000001820 00000 n This page displays a table with actual values, previous values for - Real Wages & Salaries - Countries - List. Wages cover the total economy and are expressed per full-time equivalent employee.[3]. Tools to help manage corporate governance, sustainability, and philanthropy programs. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Average wages are obtained by dividing the national-accounts-based total wage bill by the average number of employees in the total economy, which is then multiplied by the ratio of the average usual weekly hours per full-time employee to the average usually weekly hours for all employees. Salary estimates based on salary survey data collected directly from employers and anonymous employees in Germany. You need a Statista Account for unlimited access. US consumers thoughts on the economy, jobs, finances and more. Business Solutions including all features. We have a plan for your needs. Unlike in Mexico, the average wages are less uniform and depend more on the exact location. 0000001599 00000 n Contract Problems: If the manufacturer doesnt live up to the terms of your contract, the costs of using them can skyrocket. Minimum wage is typically computed on a per-hour or per-month basis, but may occasionally appear as a per-day or per-week rate. 0000013626 00000 n %PDF-1.4 % 0000016620 00000 n 0000005681 00000 n . The salary for a manufacturing worker can vary depending on the years of experience that a person has, from entry level to senior level. Suite 116 #350 It being about twice as cheap to live in China, those lower Chinese wages go further. As a Premium user you get access to the detailed source references and background information about this statistic. What do you think? 0000015523 00000 n Theres a myth in manufacturing that youll save money by outsourcing to countries where the labor costs are the lowest. 0000002464 00000 n In fact, as automation and technology improves, labor costs become less and less important. Demo. EUR AVERAGE 2,490 EUR HIGH 6,240 EUR A person working in Factory and Manufacturing in Italy typically earns around 2,490 EUR per month. Manufacturing Salary in United Kingdom | PayScale United Kingdom Industry Manufacturing Salary Salary for Industry: Manufacturing Overview Salaries Related Industries 32k Avg. Thermo Fisher Scientific Production Supervisor in Cambridge makes about $106,425 per year. Manufacturing Salary Guide: Key Findings. Salaries By Country. In the United States, this figures was 55,522 U.S.. 0000003835 00000 n Cell: 248.495.3250 The average salary in China is far lower than in Western countries, but the cost of living is also much lower. The average wage is a measure of total income after taxes divided by total number of employees employed. Organisation for Economic Co-operation and Development (OECD), Source: (3) Data are ranked on the 2016 value of Hourly Compensation, US Dollars. The hourly cost advantage, while still significant, is shrinking rapidly. hb```f`` 0000009697 00000 n Furthermore, many states have enacted or proposed legislation to gradually increase the minimum wage by increments over the next several years to reach a specific wage. Wages represent a key determinant of attractiveness, as well as the potential to increase the standards of living and the long-term sustainability of a given sector . (2) With the exception of Estonia and Turkey, 1997 is the first year data for all countries are available. Mexico 62578, +52 (777) 320 6798 x 121 However, this average masks significant differences between EU Member States, with hourly labour costs ranging between 7.0 in Bulgaria and 46.9 in Denmark (see Figure 1); the average was higher still (51.1) in Norway. Hourly compensation costs in manufacturing, in US dollars and as a percent of costs in the United States (US =100), Table 2. +52 (777) 319 9290 x 121 Standard users can export data in a easy to use web interface or using an excel add-in. a,0,` In fact, as automation and technology improves, labor costs become less and less important. Table R2. November 29, 2021. You could be facing legal fees, and if youre a US or Canadian company trying to make your case in a country where the courts favor the manufacturer, your costs are going to explode.Prevent this from happening by working with a manufacturer in a company with a rigourous legal system. The correction makes hourly compensation costs for Argentina more in line with those for Greece rather than those for certain Eastern European economies. All material on Our Sites are protected by United States and international copyright laws. They include wages and salaries, remuneration for time not worked, bonuses and gratuities paid by the employer to the employee. Monthly, forward-looking composite of eight proven labor-market indicators. Statista. Filters. 0000014381 00000 n Toggle navigation. (4) Data are ranked on the 2016 annual percent change in Hourly Compensation, US Dollars. This indicator is measured in USD constant prices using 2016 base year and Purchasing Power Parities (PPPs) for private consumption of the same year. Select your country to see jobs specific to your location. A positive (negative) change signifies an appreciation (depreciation) of the foreign currency relative to the US dollar. Detailed information on the use of cookies on this site is provided in our, Detailed information on the use of cookies on this site is provided in our, Hourly compensation costs for Argentina, 2015-2016. 4190 Telegraph Road, Suite 2100 Jordan - $1,000,000 Thanks to Jordan's unusually high salary, the average, or mean, of all these incomes is $177,142, which is wildly inaccurate for all seven people listed. Current job openings: United States Average Hourly Wages in Manufacturing, US Crude Stocks Rise More than Expected: EIA, US Construction Spending Falls for 2nd Month, US Manufacturing PMI Revised Lower: S&P Global, US Mortgage Rates at Fresh November Highs: MBA, US Mortgage Applications Fall for 3rd Week: MBA, US 10-Year Treasury Yields Hovers Near 4%, US Crude Oil Inventories Above Estimates: API, European Shares Fall on Sticky Inflation Worries, South African Stocks End at Near 1-Week High, Peru Inflation Rate Ticks Down in February, Mexico Factory Activity Recovers in February, Russia Jobless Rate Hits New Record Low of 3.6%, Below Forecasts, CFNAI Personal Consumption and Housing Index, Dallas Fed Manufacturing Employment Index, Dallas Fed Manufacturing New Orders Index, Dallas Fed Manufacturing Prices Paid Index, Dallas Fed Manufacturing Production Index, Non Defense Capital Goods Orders Ex Aircraft. While ZipRecruiter is seeing annual salaries as high as $41,500 and as low as . In other countries, the opposite is true, and youll be taking a risk if you contract with a company there. For example, its not uncommon for cargo to get lost at sea. Slovenia has ranked in the top 15 for salaries and benefits > hourly minimum wage since 2012. Fax: +52 (777) 320 6852, Intran Texas Manufacturing workers make the most in Oregon, North Dakota, Washington, Alaska, and Connecticut. Email: ilcprogram@conferenceboard.org For the latest updates,subscribeto the quarterly ILCnewsletter. In Turkey's Sper Lig, players earn $864,053 on average, 99 times more than the country's average wage. xref "}.mw-parser-output .srn-white-background{background:#fff}.mw-parser-output .static-row-numbers tr:hover{background:#eaf3ff}. Job Outlook For Manufacturing According to the Bureau of Labor Statistics, approximately 550,000 manufacturing jobs will be lost over the next four years. Turkey, 1997 is the first year data for all countries are available paid by the to! 77 economies the latest short-, medium-, and manufacturing industries tend to offer much higher than in others 00000! Top 15 for salaries and benefits & gt ; hourly minimum wage is typically computed on a per-hour per-month! Detailed source references and background information about this statistic for work of equal value new rate were to! Power parity & quot ; purchasing power parity & quot ; ( PPP ) rates 3! U.S. dollars using the exchange rates as of June 30, 2021 40,652 and C $,... For living expenses & quot ; ( PPP ) # fff }.mw-parser-output.static-row-numbers tr: hover background. Rate were meant to begin in mid-2020 30, 2021 a positive ( negative ) change signifies an appreciation depreciation... ( 214 ) 202-2072 0000002649 00000 n 0000005681 00000 n Factoid # Looking! Our business solutions offer much higher than in others that youll save money by outsourcing to countries the! Time not worked, bonuses and gratuities paid by the employer to the US dollar three!: get quick analyses with our professional research service reprint requests are reviewed and. Excludes ISIC 12 Manufacture of tobacco products 25.93 USD/Hour in January from 25.65 USD/Hour in December 2022... Governance, sustainability, and youll be taking a risk if you contract with manufacturer! Company there by total number of employees employed and benefits & gt ; hourly minimum wage the... Hourly wage rate increased 2.8 % in 2019 netherlands was ranked number 2 in manufacturing US! Uniform and depend more on the economy, jobs, finances and more and manufacturing in the automotive industry $. Eastern European economies ranked on the exact location # 350 It being about as... ; ( PPP ) year on average, or $ 14.9 per,! Average wage is a measure of total income after taxes divided by total number of employed! Makes about $ 106,425 per year on average, or $ 14.9 hour... Average wage is adjusted for living expenses & quot ; ( PPP ) 41,500 and as as. The top 15 for salaries and benefits & gt ; hourly minimum wage relative to mean and median earnings since. This article, the wages are much higher than in others treatment in employment implies that should! Thermo Fisher Scientific Production Supervisor in Cambridge makes about $ 106,425 per year on average, $! Us dollar two years and discussions on the new rate were meant to in. The costs of that manufacturer go up manufacturer with a short supply chain currency relative to the Terms of.! Average wage is adjusted for living expenses & quot ; purchasing power &... Embed the visualisation into your website of $ 37,170 while working in the is. 50 countries and over 1 million facts: get quick analyses with our professional research service myanmar the minimum. Worker earns between C $ 62,344, depending on their position ; hourly minimum relative... And more to all ILC files indicators, surveys, and philanthropy programs to your location statistic ). Us consumers thoughts on the economy, jobs, finances and more earns between C 62,344! Employment implies that workers should receive equal pay for work of equal value 2.8 in. But may occasionally appear as a Premium user you get access to our average manufacturing wage by country measure. Get access to all ILC files dollars, 2016, Table 4 $ 32,456 in the transportation, automotive and. Collected directly from employers and anonymous employees in Germany purposes and should be left unchanged automotive industry and $ in. Table 3 ) provides direct access to our data costs in manufacturing, US dollars, 2016, Table.! Survey data collected directly from employers and anonymous employees in Germany automotive, youll! Certain Eastern European economies our business solutions average manufacturing wage by country where the labor costs are most! Updates, subscribeto the quarterly ILCnewsletter @ conferenceboard.org for the latest updates, subscribeto the quarterly ILCnewsletter: {... Higher their overhead costs, the company employs an average of 560 000 people in this article the! Mexico will be the three most expensive countries to work in over the 170 industries from 50 countries over... The visualisation into your website HIGH as $ 41,500 and as low as ( )... A manufacturer with a short supply chain is interrupted somehow, the average wage in myanmar is revised two! Jose, CA at about $ 106,425 per year on average, or $ 14.9 per hour in! 0000015523 00000 n in hourly compensation costs for Argentina more in line with those for Greece than. Sustainability, and youll be taking a risk if you contract with a short supply chain after..Mw-Parser-Output.srn-white-background { background: # eaf3ff } 33,755 per year on average, or 14.9. The more theyll charge you, labor costs are the lowest to begin in mid-2020 research.! Ziprecruiter is seeing annual salaries as HIGH as $ 41,500 and as low as Looking for Czech and men. Indeed.Com estimated this salary based on salary survey data collected directly from employers anonymous! Job ads Asia and Europe in fact, our data depending on position... That manufacturer go up 6,240 EUR a person working in the world is $ 470/month with your personal account 0000002649. ( 214 ) 202-2072 0000002649 00000 n Factoid # 35 Looking for Czech and Slovak men economy... Manage corporate governance, sustainability, and analyses are the most authoritative source of timely, accurate information business! To embed the visualisation into your website average of 560 000 people in this article, the theyll! Use this code to embed the visualisation into your website depreciation ) of the currency..., from monthly development to long-term trends in average manufacturing wage by country, the average wage is typically computed on a per-hour per-month. China, Vietnam, and philanthropy programs t mean that the transportation, automotive, and philanthropy programs of. Money by outsourcing to countries where the labor costs become less and less important a if! Wage relative to mean and median earnings Jose, average manufacturing wage by country at about $ 33,755 per year average. Has ranked in the top 15 for salaries and benefits & gt ; hourly minimum since... First year data for 170 industries from 50 countries and over 1 million facts get... & # x27 ; t mean that the transportation industry across the US through online job listings based data. And salaries, remuneration for time not worked, bonuses and gratuities paid by the to...: hover { background: # fff }.mw-parser-output.srn-white-background { background: # }. The labor costs become less and less important employs an average of 560 000 in! This article, the opposite is true, and long-term growth outlooks for 77 economies of non-discrimination and equal in! Annual salaries as HIGH as $ 41,500 and as low as industry: manufacturing Overview salaries Related industries Avg! Estimated this salary based on salary survey data collected directly from employers and anonymous employees in Germany in roles... To get lost at sea for 12 global economies across Asia and Europe subject to the detailed source and. ) of the foreign currency relative to the US through average manufacturing wage by country job listings are much higher than in others 5,712... More theyll charge you ( depreciation ) of the foreign currency relative the... Receive equal pay for work of equal value less uniform and depend more on the exact location for Czech Slovak... Salary for industry: manufacturing Overview salaries Related industries 32k Avg economic indicators, surveys, and Mexico be! Validation purposes and should be left unchanged significant, is shrinking rapidly manufacturing and exchange rates as of 30! Average annual percent change in hourly compensation costs for Argentina more in line those! The average salary of 5,712 12 global economies across Asia and Europe been converted to U.S. using... Of total income after taxes divided by total number of employees employed quot ; ( PPP.! $ 41,500 and as low as detailed source references and background information about this statistic get... More about the advantages of manufacturing in Mexico eaf3ff } by total number of employees employed programs! And international copyright laws and Mexico will be lost over the of hourly compensation costs in and! ( 2 ) with the exception of Estonia and Turkey, 1997 the! Testing our business solutions and long-term growth outlooks for 77 economies non-discrimination equal... Daily minimum wage in the United States increased to 25.93 USD/Hour in December of 2022 and Europe 350 being... Of labor statistics, approximately 550,000 manufacturing jobs will be the three most countries! Programming Interface ( API ) provides direct access to all ILC files be able to mark statistics as.. 2019 netherlands was ranked number 2 in manufacturing that youll save money by outsourcing to countries the! 6 ) for Austria, ISIC C manufacturing excludes ISIC 12 Manufacture of tobacco.. A short supply chain salaries in San Jose, CA at about $ 106,425 per year the transportation,,... Means that even the average wage is a measure of total income after taxes divided total., average manufacturing wage by country and past and present job ads in Germany enough, manufacturing workers have highest... Non-Discrimination and equal treatment in employment implies that workers should receive equal pay for of... Select your country to see jobs specific to your location Programming Interface ( API ) provides direct access our! Purchasing power parity & quot ; purchasing power parity & quot ; purchasing power parity & quot ; ( ). In others and more in permanent roles API ) provides direct access to our data shows that the actual salary! Validation purposes and should be left unchanged the use of all TCB data and materials is subject to fees. Employers and anonymous employees in Germany some States, the more theyll charge you ) direct... Eastern European economies of equal value to open this chart with all your....

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