Manufacturing workers enjoying higher pay, better benefits
Creating new jobs within the manufacturing industry has been a priority for lawmakers and regulators at both the state and federal government levels. Recent reports suggest these efforts may have been a success: a Spring 2012 study from the Boston Consulting Group said more than 2 million manufacturing jobs could return to the U.S. from China in the months and years ahead.
Now, a new study from the U.S. Commerce Department suggests workers within the manufacturing industry may enjoy greater benefits when compared to their nonmanufacturing counterparts. The Economic and Statistics Administration reported that manufacturing workers are paid 17 percent more than nonmanufacturing employees, when considering both wages and benefits.
Higher wages may be the result of more demanding job requirements within the manufacturing industry, said the report. Many manufacturing workers need to possess significant math, science, engineering and technology skills to succeed in that industry.
The average hourly salary for a manufacturing employee is $29.75 per hour, while totally hourly compensation is $38.27 when including benefits.
"This report reaffirms that manufacturing is a matter of fundamental importance to our country's economic strength, so we must do everything we can to continue to build an overall environment where U.S. manufacturing can flourish," commented Commerce Secretary John Bryson.
The U.S. economy added 16,000 new manufacturing jobs in April, according to the most recent data available from the Department of Labor.
Businesses in the manufacturing industry may want to accompany any success on the hiring front with an investment in ERP software that can contribute to their overall productivity. These professionals are advised to seek ERP software that can aid with the efficient management of production ordering and material billing.