Manufacturing compensation costs in foreign countries and in the United States, 2011
December 21, 2012
Average hourly compensation costs in U.S. manufacturing, at $35.53 in 2011, ranked approximately in the middle among 33 countries examined by the U.S. Bureau of Labor Statistics.
|Country||Hourly compensation costs in U.S. dollars (1997)||Hourly compensation costs in U.S. dollars (2011)|
Korea, Republic of
In addition to Norway ($64.15), Australia ($46.29), Canada ($36.56), Italy ($36.17), and Japan ($35.71), countries with hourly compensation costs in manufacturing that were higher than those experienced by the United States were primarily in northern and western Europe. Countries with lower hourly compensation costs were primarily in southern and eastern Europe, Asia, and Latin America. These countries included the United Kingdom ($30.77), Republic of Korea ($18.91), Brazil ($11.65), Taiwan ($9.34) and the Philippines ($2.01).
Between 1997 and 2011, compensation costs in manufacturing as a percent of U.S. costs increased or remained the same in all economies compared except Taiwan, improving U.S. cost competitiveness.
|Country||Percent of U.S. hourly compensation costs (1997)||Percent of U.S. hourly compensation costs (2011)|
Korea, Republic of
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Manufacturing compensation costs in foreign countries and in the United States, 2011 on the Internet at http://www.bls.gov/opub/ted/2012/ted_20121221.htm (visited December 08, 2016).
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