An interesting article by economics correspondent Jim Tankersley in the Washington Post this week entitled Maybe manufacturing jobs still pay more. Tankersley reports that according to U.S. Commerce Department economists, “the ‘wage premium’ in manufacturing is alive and well. He writes that “a typical U.S. factory worker takes home higher pay and has better benefits than a comparable worker outside manufacturing.”
Mark Doms, the Commerce Department’s undersecretary for economic affairs is quoted in the article from a recent interview stating: “When you’re trying to compare apples to apples…you do see this manufacturing wage premium [has] been robust over time.”
Commerce reports these stats as reported in the article:
– Medical and retirement benefits are 60 percent more lucrative per hour for factory workers than non-factory workers.
– Comparing workers with similar skills across industries, Commerce found wages and benefits added up to a 17 percent advantage for manufacturing employees, “an advantage that has held even as industry employment has shifted away from union jobs to lower-paying nonunion ones,” Commerce reported.
Read the full article here.