International comparisons of hourly compensation costs in manufacturing, 2008
September 01, 2010
Compensation costs for all employees in manufacturing measured in U.S. dollars continued to rise in 2008 in most foreign economies—with only two countries, the Republic of Korea and the United Kingdom, showing a decrease in costs.
The strongest growth in hourly compensation costs in U.S. dollars was seen in the Eastern European countries (26.0 percent), Argentina (24.7 percent), Israel (23.5 percent), and Singapore (19.5 percent). The changes in hourly compensation in Canada and Mexico were relatively small (2.0 percent and 3.5 percent, respectively).
In the Republic of Korea, the majority of the 16.2-percent decrease was due to the depreciation of the won (‑15.4 percent). In the United Kingdom, the entire 3.6-percent decrease was due to the depreciation of the pound.
In the United States, hourly compensation costs for all employees in manufacturing rose 2.4 percent from the 2007 level to $32.26 in 2008.
These data are from the International Labor Comparisons program. To learn more, see "International Comparisons of Hourly Compensation Costs in Manufacturing, 2008" (HTML) (PDF), news release USDL 10-1173.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, International comparisons of hourly compensation costs in manufacturing, 2008 on the Internet at http://www.bls.gov/opub/ted/2010/ted_20100901.htm (visited March 28, 2015).
Three recent editions of Spotlight on Statistics
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.
Women veterans in the labor force examines the demographic, employment, and unemployment characteristics of women veterans.