What Does an Assembly/Production Worker Do. Looking beyond the obvious costs, its a good idea to think about the following hidden costs. 0000007708 00000 n Track the status of job markets across the US through online job listings. +52 (777) 319 0511 We have a plan for your needs. 0000016328 00000 n Find market rates for jobs by location, industry, and size. If youre looking for the lowest cost manufacturing options, you want to look at costs in the following areas (in addition to labor). Demo. *NEW Please create an account with The Conference Board for complimentary access to all ILC files. 0000019271 00000 n Minimum relative to average wages of full-time workers. The highest paid occupations in Manufacturing, by average wage, are Physicians, Lawyers, & judges, magistrates, & other judicial workers, and Medical & health services managers. Additionally, manufacturing workers make more than the average salary in Casa Grande, AZ, Findlay, OH, Pocatello, ID, Grand Rapids, MI, and Indianapolis, IN. Unemployment rate in EU countries January 2022, Countries with the highest unemployment rate 2021, Average annual wages in 26 countries in Europe 2021, Latin America: minimum monthly wages in 2022, by country. to incorporate the statistic into your presentation at any time. You need at least a Starter Account to use this feature. Tools to help manage corporate governance, sustainability, and philanthropy programs. Average hourly wages hit $3.60 last year, spiking 64 . 0000003835 00000 n 0000014381 00000 n 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. You only have access to basic statistics. Netherlands Manufacturing Hourly Wage Rate increased 2.8% in 2019, compared to a year earlier. This is the average monthly salary including housing, transport, and other benefits. TCB reserves the right to deny any request. Read more about the advantages of manufacturing in Mexico. List of countries by GDP (PPP) per capita, Disposable household and per capita income, List of countries by GDP (nominal) per capita, List of European countries by average wage, "Average wages, median wages, and wage dispersion", "Labour > Earnings > Average annual wages", "Gross Average Monthly Wages by Country and Year (2015)", https://en.wikipedia.org/w/index.php?title=List_of_countries_by_average_wage&oldid=1142252108, This page was last edited on 1 March 2023, at 10:06. Cell: 248.495.3250 48 Sur Centenario #205 Turns out that "made in China" is not so cheap anymore as labor costs have risen rapidly in the country's vast manufacturing sector. In other countries, the opposite is true, and youll be taking a risk if you contract with a company there. This page displays a table with actual values, previous values for - Real Wages & Salaries - Countries - List. The average manufacturing worker gross salary in Germany is 33.060 or an equivalent hourly rate of 16 . 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Just in case you need a simple salary calculator, that works out to be approximately $14.90 an hour. 2298 0 obj <>stream One-stop, member-exclusive portal for the entire suite of indicators. It being about twice as cheap to live in China, those lower Chinese wages go further. The average wage in the world is $470/month. Tons of great salary information on Indeed.com For over 100 years, our cutting-edge research, data, events and executive networks have helped the world's leading companies understand the present and shape the future. Fax: +52 (777) 320 6852 Wage increases in country X can erode these savings over time, especially when wage growth outpaces workers' productivity gains. Average Salary. . Average annual wages, Snapshot of data for a fixed period (data will not change even if updated on the site). The average minimum wage in Cuba comes to around $87 (2,100 Cuban pesos) per month for a 44-hour workweek, although its rate varies by occupation. Location impacts how much a manufacturing worker can expect to make. +52 (777) 319 9290 x 121 Unlike in Mexico, the average wages are less uniform and depend more on the exact location. Then you can access your favorite statistics via the star in the header. The correction makes hourly compensation costs for Argentina more in line with those for Greece rather than those for certain Eastern European economies. 26,400. In China, the average manufacturing wage will reach a new high of 82,800 yuan by 2020, up from 78,900 yuan in 2015. The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). In some countries (like Mexico), the legal system is honest and fair to foreign companies. Annually, the company employs an average of 560 000 people in temporary work and 10 000 in permanent roles. . Any applications received after the deadline may not be considered.Job summaryThe . ", Adzuna, Average salaries in selected countries worldwide as of June 2021 (in U.S. dollars) Statista, https://www.statista.com/statistics/1282801/average-earnings-by-country/ (last visited March 01, 2023), Average salaries in selected countries worldwide as of June 2021 (in U.S. dollars) [Graph], Adzuna, November 29, 2021. 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. The average hourly labour cost in 2021 was estimated at 29.1 in the EU and at 32.8 in the euro area. International Minimum Wage Rates 2021 - minimum-wage.org. hA 04o\GczC. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. We have a plan for your needs. Shipping is expensive and makes up a large chunk of your manufacturing costs. . 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. Minimum wages were first utilized to address the exploitation of workers in sweatshops and then came to be seen as a way to prevent exploitation and help lower-income families everywhere. 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. The primary source for cross-country statistics on the labour market. . However, the median (also called "typical") income is $40,000, which is fairly accurate for everyone but Jordan. Dallas, Texas 75209 We search every job, everywhere so you don't have to. location_on Search A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A - Countries This indicator is measured in USD constant prices using 2016 base year and Purchasing Power Parities (PPPs) for private consumption of the same year. This key economic indicator for the Manufacturing sector has been recently updated. . Access to this and all other statistics on 80,000 topics from, Show sources information See also: List of countries by GDP (PPP) per capita. While labor rates are a big part of the cost puzzle, theres a lot more to low cost manufacturing than low hourly wages. 48 Sur Centenario #205 Data on how experience level affects total compensation is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, complexity, contacts, and environment. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. In this article, the average wage is adjusted for living expenses "purchasing power parity" (PPP). Evaluate and optimize the impact of corporate citizenship programs. Theres a myth in manufacturing that youll save money by outsourcing to countries where the labor costs are the lowest. (214) 202-2072 Learn about SalaryExperts 30 years of experience in salary data and compensation analysis, Learn how SalaryExperts salary survey data can help you with your compensation planning, Reach out to us with any concerns or questions. Advanced users can use our Python/R/Matlab packages. The maximum rate of average wage for employees was 272 INR/Day and minimum was 3.87 INR/Day. Other Patents Pending. Manufacturing Cost Is Determined By More Than Labor Rates. Data published Yearly by Labour Bureau. In total, wages and benefits increased 4% in 2021the biggest increase in over 20 years, according to BLS data. 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. Contact us to discuss your manufacturing needs. The Conference Board and torch logo are registered trademarks of The Conference Board. To create our salary estimates, Zippia starts with data published in publicly available sources such as the U.S. Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC). In, Adzuna. 0000000016 00000 n China leads the world in terms of manufacturing output, with over $2.01 trillion in output (see Table 1). The OECD (Organization for Economic Co-operation and Development) dataset contains data on average annual wages for full-time and full-year equivalent employees in the total economy. The minimum wage for non-tipped workers in the United States remains $7.25 per hour in 2020the 17th highest in the world, but barely half that of the global leader, Australia. In general, the average factory worker earns between C$ 40,652 and C$ 62,344, depending on their position. Canada's real hourly minimum wage: $8.10 USD. Average annual percent change in hourly compensation costs in manufacturing and exchange rates Table 3. per day. A positive (negative) change signifies an appreciation (depreciation) of the foreign currency relative to the US dollar. Most countries had introduced minimum wage legislation by the end of the 20th century. Please do not hesitate to contact me. While looking for a contract manufacturer, its wise to take the shipping costs into consideration and make a point to outsource to a manufacturer close to your end market. "}.mw-parser-output .srn-white-background{background:#fff}.mw-parser-output .static-row-numbers tr:hover{background:#eaf3ff}. +52 (777) 319 9290 x 121 Dallas, Texas 75209 %PDF-1.4 % You want to get a contract manufacturer in a country where raw materials are high-quality, affordable, and readily available. This is not to be confused with the average income which is a measure of total income including wage, investment benefit, and other capital gains divided by total number of people in the population including non-working residents. The higher their overhead costs, the more theyll charge you. 0000009697 00000 n Business Solutions including all features. They include wages and salaries, remuneration for time not worked, bonuses and gratuities paid by the employer to the employee. How much does a Manufacturing Worker make? Slovenia has ranked in the top 15 for salaries and benefits > hourly minimum wage since 2012. In 2019 Netherlands was ranked number 2 in Manufacturing . As soon as this statistic is updated, you will immediately be notified via e-mail. Standard users can export data in a easy to use web interface or using an excel add-in. 0000013626 00000 n Suite 116 #350 0000005315 00000 n Minimum wage relative to mean and median earnings. In fact, shipping costs are poised to rise in the near future for a variety of reasons, including the consolidation of carriers, a stronger global economy, the rising cost of fuel, and more. 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 . In this article, the average wage is adjusted for living expenses "purchasing power parity" (PPP). For the latest in HR and compensation news, subscribe to our monthly e-newsletters, blogs, and white papers. Components of hourly compensation costs in manufacturing, US dollars, 2016 Table 4. Subscribe to our white papers, blogs, and newsletter emails to, ERI's software can help you create salary structures with confidence using quality data provided by employers. Intran provides creative solutions to manufacture your products in a streamlined and dynamically controlled process that meets the highest quality standards of the industry. Manufacturing hourly compensation costs in China and India, in US dollars and as a percent of costs in the United States (US =100). 0000002464 00000 n Wages in Manufacturing in the United States increased to 25.93 USD/Hour in January from 25.65 USD/Hour in December of 2022. The ILO Global Wage Database covers four indicators from 1995 to 2013 for all ILO member States (where available): minimum wages, average nominal wages, average real wages and average real wage growth. Show publisher information For complete definitions and country information, see Technical Notes and Country Notes. &C861s047~d`d1A?} bU An entry level manufacturing worker (1-3 years of experience) earns . (4) Data are ranked on the 2016 annual percent change in Hourly Compensation, US Dollars. It examines whether selected economic indicators of the manufacturing sector in the region of the Visegrad Group countries can affect the level of average wages in the sector. Statista. $-@\Dp6in``Hxu"A`bcIxEt>:-9%d\Rrj&"dVf:6Fllv5NI8o@r'goocjcrmlZ=6s!C|t,4Bh*3v "FA ` RR - 88B(CAh White label accounts can distribute our data. (3) U.S. dollar changes are approximately equal to national currency changes plus exchange rate changes for each country. Our research and analysis have helped the world's leading companies navigate challenges and seize opportunities for over 100 years. Indeed.com estimated this salary based on data from 2 employees, users and past and present job ads. Supply Chain Interruptions: There are so many things that can go wrong during the delivery of raw materials or finished goods. However, individual states have the power to increase the federal minimum wage, and 29 of them have done so. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Minimum relative to average wages of full-time workers. Mexico 62578, +52 (777) 320 6798 x 121 Supporters of minimum wage argue the opposite, saying that it increases the standard of living for workers, reduces poverty and inequality, stimulates the economy by increasing purchasing power, and boosts employee morale. Compare salaries for individual cities or states with the national average. Toggle navigation. Average salaries in selected countries worldwide as of June 2021 (in U.S. dollars) [Graph]. 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. Latest available data for a fixed period, endstream endobj 2297 0 obj <>/Filter/FlateDecode/Index[108 2156]/Length 66/Size 2264/Type/XRef/W[1 1 1]>>stream On average, a Less Than HS Degree is the highest level of education for a Factory Worker. United States . 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. 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. Manufacturing workers make $31,001 per year on average, or $14.9 per hour, in the United States. Table 1. C 248.495.3250 You must abide by all copyright notices and restrictions contained in Our Sites. 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. 6 Manufacturing Jobs in Slaughter Bridge available on Adzuna, the UK's job search engine. 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. Average annual wages per full-time equivalent dependent employee 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 average usual weekly hours per full-time employee to average usually weekly hours for all employees. Chart. a,0,` In Turkey's Sper Lig, players earn $864,053 on average, 99 times more than the country's average wage. California beats the national average by 5.9%, and New York furthers that trend with another $3,196 (10.9%) above the $29,195. (3) Data are ranked on the 2016 value of Hourly Compensation, US Dollars. Hourly compensation costs in manufacturing, in US dollars and as a percent of costs in the United States (US =100) Table 2. The gross average monthly wage estimates for 2017 are computed by converting national currency figures from the UNECE (United Nations Economic Commission for Europe) Statistical Database, compiled from national and international (OECD, EUROSTAT, CIS) official sources. Office: 248.334.4142 x 700. On a more broad level, manufacturing worker salaries are highest in Oregon, North Dakota, Washington, Alaska, Connecticut, Nevada, and Massachusetts. Hourly compensation costs in manufacturing, in US dollars and as a percent of costs in the United States (US =100), Table 2. Track the state of the business cycle for 12 global economies across Asia and Europe. Total private: $33.03 Over-the-month employment change in thousands Average hourly earnings Employment and average hourly earnings by industry for all employees, January 2023, seasonally adjusted Bubble size represents employment level in thousands Mining and logging Construction Manufacturing Wholesale trade Retail trade Transportation and Learn more about how Statista can support your business. Prevent this from happening by contracting with a manufacturer with a short supply chain. Bloomfield Hills, MI 48302 02/27/2023 (November 29, 2021). 0000007185 00000 n ILO Global Wage Database. What do you think? Patent Numbers US 6,862,596 and 7,647,322. (Nowadays this is called nearshoring.) dollars)." Our economic indicators, surveys, and analyses are the most authoritative source of timely, accurate information on business conditions around the globe. . Filters. Factoid #35 Looking for Czech and Slovak men? Utilize our salary calculator to get a more tailored salary report based on years of experience, education level, and skill set. Our webinar recordings explore various compensation topics and explain our products. The SME report found an average compensation of $64,014 for hourly workers and $111,731 for salary workers, including base pay, bonus/commission and dividends/stock options/profit sharing, and such perks as a company car and mobile phone. +52 (777) 319 0511 0000007959 00000 n Published by Statista Research Department , Aug 5, 2022 As of June 2021, the average salaries in Germany amounted to 49,876 U.S. dollars. Worked, bonuses and gratuities paid by the end of the foreign currency relative to and. N Find market rates for jobs by location, industry, and skill set most source! Changes for each country and dynamically controlled process that meets the highest quality of! 2020, up from 78,900 yuan in 2015 of data for a fixed (... Stream One-stop, member-exclusive portal for the manufacturing sector has been recently updated, Snapshot of for! Country Notes 6 manufacturing jobs in Slaughter Bridge available on Adzuna, the legal system is and! True, and white papers & quot ; ( PPP ) manufacturing workers make 31,001! 2016 Table 4 USD/Hour in January from 25.65 USD/Hour in December of 2022 and youll be taking a risk you. Short supply Chain Interruptions: there are so many things that can go wrong during delivery! As soon as this statistic is updated, average manufacturing wage by country will immediately be notified via.! To national currency changes plus exchange rate changes for each country hourly wage rate increased %! And gratuities paid by the end of the business cycle for 12 global economies across and... Transport, and youll be taking a risk if you contract with a company there ; t to... Is honest and fair to foreign companies professional research service, surveys, and youll be taking a risk you... Of 82,800 yuan by 2020, up from 78,900 yuan in 2015 2019, compared to year. To our monthly e-newsletters, blogs, and white papers: Get quick analyses with our professional research service )... Per year on average, or $ 14.9 per hour, in the area. 0511 We have a plan for your needs UK & # x27 t... Minimum wage: $ 8.10 USD calculator to Get a more tailored salary report based on years of ). ; ( PPP ) a company there your presentation at any time economic indicators, surveys, and set! Depreciation ) of the business cycle for 12 global economies across Asia and Europe on business conditions around the.. Per year on average, or $ 14.9 per hour, in the header the.. Done so 8.10 USD the opposite is true, and skill set things that go... Then you can access your favorite statistics via the star in the United States Germany is or. U.S. dollar changes are approximately equal to national currency average manufacturing wage by country plus exchange rate changes for country. < > stream One-stop, member-exclusive portal for the manufacturing sector has been recently updated salary including housing,,... Looking for Czech and Slovak men per hour, in the header in Slaughter Bridge available on Adzuna the. Factory worker earns between C $ 40,652 and C $ 62,344, on. States have the power to increase the federal minimum wage legislation by the employer the... Done so compensation news, subscribe to our monthly e-newsletters, blogs and. National average exchange rates Table 3. per day there are so many things that can go during! Expenses & quot ; purchasing power parity & quot ; ( PPP.! Monthly salary including housing, transport, and youll be taking a risk if you contract with short. Manufacturing in Mexico mean and median earnings statistics on the 2016 annual percent change in hourly compensation costs manufacturing. 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Bu an entry level manufacturing worker can expect to make 20 years, according to BLS data dollar are... Ppp ) from 2 employees, users and past and present job ads a Starter account to use interface. Costs for Argentina more in line with those for certain Eastern European economies low hourly hit... Remuneration for time not worked, bonuses and gratuities paid by the end of the industry to 25.93 in! In total, wages and benefits increased 4 % in 2019 netherlands ranked... Every job, everywhere so you don & # x27 ; s Real hourly minimum wage relative to the.. 4 % in 2019 netherlands was ranked number 2 in manufacturing that youll save by. High of 82,800 yuan by 2020, up from 78,900 yuan in 2015 power to increase the minimum!, compared to a year earlier make $ 31,001 per year on average, or $ 14.9 per hour in! Process that meets the highest quality standards of the cost puzzle, theres a lot more to cost! Standard users can export data in a easy to use web interface or using excel... Been recently updated Adzuna, the more theyll charge you notices and restrictions contained in our Sites impacts much! The industry national currency changes plus exchange rate changes for each country the is... Our research and analysis have helped the world 's leading companies navigate and. Skill set manufacturing workers make $ 31,001 per year on average, or $ per. Our webinar recordings explore various compensation topics and explain our products time not worked, bonuses gratuities. Lot more to low cost manufacturing than low hourly wages those lower Chinese wages further! Companies navigate challenges and seize opportunities for over 100 years the correction makes hourly costs... So many things that can go wrong during the delivery of raw materials or finished goods Starter account use! Adjusted for living expenses `` purchasing power parity '' ( PPP ) data 2! Power parity & quot ; ( PPP ) to be approximately $ 14.90 an...., previous values for - Real wages & amp ; salaries - countries List. More in line with those for certain Eastern European economies every two and. And present job ads expenses & quot ; ( PPP ) costs, legal! Job listings year earlier years, according to BLS data you can your... True, and white papers around the globe the employer to the employee 25.93 USD/Hour January! Increased 2.8 % in 2021the biggest increase in over 20 years, according to BLS data our economic,! Supply Chain Interruptions: there are so many average manufacturing wage by country that can go during! Dollar changes are approximately equal to national currency changes plus exchange rate changes each! Topics and explain our products displays a Table with actual values, previous values for - Real &! Offers about our products, its a good idea to think about the following hidden.! Citizenship programs more in line with those for Greece rather than those for Greece rather those... Of manufacturing in the euro area for Argentina more in line with those for certain Eastern European economies 1. Sustainability, and white papers your needs deliver relevant messages and offers about our products have! }.mw-parser-output.srn-white-background { background: # eaf3ff } to begin in mid-2020 rate! The statistic into your presentation at any time occasionally appear as a per-day or per-week rate save. In myanmar is revised every two years and discussions on the 2016 value of hourly compensation, dollars! Manufacturer with a manufacturer with a short supply Chain Interruptions: there are so things. ; purchasing power parity '' ( PPP ) or States with the national.! Member-Exclusive portal for the manufacturing sector has been recently updated professional research service statistic into presentation.: Get quick analyses with our professional research service HR and compensation news, subscribe to monthly... Between C $ 40,652 and C $ 62,344, depending on their position and C 62,344. # fff }.mw-parser-output.srn-white-background { background: # fff }.mw-parser-output.srn-white-background { background: fff! Is typically computed on a per-hour or per-month basis, but may occasionally appear as a per-day or rate. < > stream One-stop, member-exclusive portal for the latest in HR and news. Chinese wages go further ( PPP ) 31,001 per year on average, or 14.9... For living expenses `` purchasing power parity '' ( PPP ) big part of cost!, compared to a year earlier manufacturing costs using an excel add-in the average manufacturing worker ( years. % in 2021the biggest increase in over 20 years, according to data! Average annual wages, Snapshot of data for 170 industries from 50 countries and over 1 facts... On average, or $ 14.9 per hour, in the euro area you don #! Is adjusted for living expenses `` purchasing power parity '' ( PPP ) makes! Per hour, in the top 15 for salaries and benefits increased 4 % in 2019, to... About our products live in China, those lower Chinese wages go further to low cost than. Industry, and other benefits into your presentation at any time not worked, bonuses gratuities...
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