Skip to comments.Guess Which Country Has The Best Paid Manufacturing Workers
Posted on 12/23/2011 8:26:43 AM PST by SeekAndFind
Great data from the BLS comparing hourly compensation for manufacturing. The second chart looks at the benefits component of the hourly cost.
The data are from 2010 and sensitive to exchange rate movements. We will post a follow-up chart in the next few days looking at the 2009-10 change in hourly compensation, breaking out the changes in wage and benefits versus the FX component. Stay tuned!
(Excerpt) Read more at businessinsider.com ...
How do you define BEST PAID ???
How about “Which country permits the most money AFTER TAXATION to be kept relative to the cost of living in that country?”
Is that not what REALLY counts??
Now lets do a study on the most productive per hourly wage and see what that shows.
That study has been done, its the US.
Business Insider always has a liberal agenda to everything they do. You can bet this is no exception.
I'm off work for a few days, I think I'll try to do some real investigative computering instead of my usual oneliner bytes.
Merry Christmas, Happy Birthday, Lord, Thanks for saving me.
Guess which country taxes their salaries the most?
Before we talk about China, lets talk about what WE, AMERICANS make.
The United States sold more than $200 billion worth of aircraft, missiles and space-related equipment in 2007. And $80 billion worth of autos and auto parts. Deere & Co., best known for its bright green and yellow tractors, sold $16.5 billion worth of farming equipment last year, much of it to the rest of the world. Then there are energy products like gas turbines for power plants made by General Electric, computer chips from Intel and fighter jets from Lockheed Martin. Household names like GE, General Motors, IBM, Boeing and Hewlett-Packard are among the largest manufacturers by revenue.
Several trends have emerged over the decades:
America makes things that other countries cant. Today, Made in USA is more likely to be stamped on heavy equipment or the circuits that go inside other products than the TVs, toys, clothes and other items found on store shelves.
U.S. companies have shifted toward high-end manufacturing as the production of low-value goods moves overseas. This has resulted in lower prices for shoppers and higher profits for companies.
When demand slumps, all types of manufacturing jobs are lost. Some higher-end jobs - but not all - return with good times. Workers who make goods more cheaply produced overseas suffer.
Now back to China, they dont include China because of them work like slaves in sweatshops for $1 a day.
And whats then when China tries to dump those wages. Its called downward spiral. If thats where their competitive advantage lies, I dont even want to be BE like them.
At least until some American transnational moves the production to a cheap labor nation. China is working hard to develop a commercial airline industry and Boeing and others are helping them along by producing more sections of commercial aircraft in China.
Any technology or manufacturing process developed in the West can be moved to China or India, and both those nations use every means they have to see that it happens.
If the U.S. is competitive, it won't matter. It's virtually certain that so-called developing countries will develop industrial capabilities in the areas you mention. It's not at all certain that American will lose its competitive advantage in those industries.
Labor is not the primary cost for manufacturers.
If taxes on profits and capital were reduced (or eliminated), America could be very competitive. Of course, as long as the dollar is artificially over-valued because of its reserve currency status, we will always have that cross to bear.
No it's not. For manufactured goods, the average cost for labor as a percent of the retail price is around 10%. Labor is one of the smaller costs.
Cheap labor is overwhelmingly the reason so many US plants have moved to China and other cheap labor nations. And there are many articles around now about how labor is getting more expensive in China and some companies are leaving China for even cheaper labor in Vietnam, Cambodia, Laos and Bangladesh and other even poorer nations.
No matter how much some don't want to admit it, cheap labor is the main reason plants leave the US.
And that more expensive labor in China is now around $1.60 an hour, Time to move to $30 a month is such places as Bangladesh.
It is a chase around the world for the cheapest labor.;
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