Thursday, August 26, 2010
[IWS] BLS: INTERNATIONAL COMPARISONS OF HOURLY COMPENSATION COSTS IN MANUFACTURING, 2008 [26 August 2010]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
INTERNATIONAL COMPARISONS OF HOURLY COMPENSATION COSTS IN MANUFACTURING, 2008 [26 August 2010]
[full-text, 25 pages]
Supplemental Files Table of Contents
The trade-weighted average of hourly compensation costs in U.S.
dollars for all employees in manufacturing among 32 foreign economies
was 85 percent of the U.S. level in 2008, increasing from 82 percent in
2007, according to data issued by the U.S. Bureau of Labor Statistics.
(See chart 1.) Compensation costs relative to the United States rose or
remained unchanged in 28 of the 32 foreign economies covered in 2008.
(See table 1.) This news release contains data for all employees and
production workers. (See discussion on page 3, table B, and table 7.)
A note on labor costs in China and India appears on page 4 of this
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.
When measured in national currency terms, trade-weighted average costs
increased 3.5 percent in the combined 32 foreign economies in 2008. The
value of foreign currencies rose 3.1 percent against the U.S. dollar
resulting in a rise in hourly compensation costs in the foreign economies
of 7.2 percent on a U.S. dollar basis. (See chart 2 and table A.)
AND MUCH MORE...including TABLES....
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