Hourly compensation in U.S. and foreign factories, 2004
November 23, 2005
In the United States, hourly compensation costs for production workers in manufacturing increased 4.0 percent in 2004, to $23.17.
Although average costs in the United States were higher than those in all the economies covered outside of Europe, 12 of the 19 European countries covered had higher hourly compensation costs than the United States, in a few cases more than 40 percent higher.
Trade-weighted average costs increased 3.0 percent in the combined 31 foreign economies in 2004, when measured in national currency terms. This was less than the increase in the United States, but the value of foreign currencies rose 5.8 percent against the U.S. dollar, resulting in a rise in hourly compensation costs in the foreign economies of 8.9 percent on a U.S. dollar basis.
These data are from the Foreign Labor Statistics program. The Asian newly industrializing economies are Hong Kong, Korea, Singapore, and Taiwan. For more information, see International Comparisons of Hourly Compensation Costs for Production Workers in Manufacturing, 2004 (PDF) (TXT), news release USDL 05-2197. Hourly compensation costs include (1) hourly direct pay and (2) employer social insurance expenditures and other labor taxes.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Hourly compensation in U.S. and foreign factories, 2004 on the Internet at http://www.bls.gov/opub/ted/2005/nov/wk3/art03.htm (visited May 30, 2016).
Recent editions of Spotlight on Statistics
Employment and Wages in Healthcare Occupations
Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.
- A look at pay at the top, the bottom, and in between
The Spotlight examines how earnings and wages have changed over time and how they differ within a geographic area, industry, or occupation.