The U.S. Commerce Department’s Economics and Statistics Administration (ESA) today released ”The Benefits of Manufacturing Jobs,“ an analysis of wages and benefits of manufacturing workers.
The report finds that total hourly compensation for manufacturing workers is 17 percent higher than for non-manufacturing workers. This includes premiums in both wages and employer-provided benefits, such as health insurance and retirement plans.
Specific findings from “The Benefits of Manufacturing Jobs” include:
- On average, hourly wages and salaries for manufacturing jobs are $29.75 an hour compared to $27.47 an hour for non-manufacturing jobs. Total hourly compensation, which includes employer-provided benefits, is $38.27 for workers in manufacturing jobs and $32.84 for workers in non-manufacturing jobs, a 17 percent premium.
- Even after controlling for demographic, geographic, and job characteristics, manufacturing jobs maintained significant wage and benefit premiums.
The report also analyzed educational attainment trends in the manufacturing workforce. According to the findings, the share of manufacturing workers with more than a high school degree has been steadily increasing, and now more than half of all manufacturing workers have at least some college education.
Further, manufacturing jobs are more STEM (science, technology, engineering, and math) intensive than non-manufacturing industries.
A full copy of the new ESA manufacturing employment report can be found online at http://www.esa.doc.gov/Reports/benefits-manufacturing-jobs.