Looking
for ways to attract students to your manufacturing programs and to
manufacturing jobs? A new study by the U.S. Department of Commerce, Office of
Economics and Statistical Administration offers a different and positive light
on wages and salaries in manufacturing. Although comparisons between new hires
and incumbent workers probably won’t mean much to students, strong worker
earnings for the manufacturing sector between 2000-2011 are something to think
about.
Manufacturing
jobs continue to earn their reputation as “good jobs.” To most, a “good job”
offers above
average wages and benefits, full-time hours, and stable
employment. A relatively new data source, the
Quarterly Workforce Indicators, reveals that new hires in
manufacturing sectors earn more than new hires in other industries. Key points
include a notable premium for new hires in manufacturing (38 percent) at the
end of 2011. Additionally, new hires in manufacturing make approximately 70
percent of incumbent worker earnings compared to new hires in other industries that
average only 60 percent of incumbents. Since the recession began, new hires and
incumbents in manufacturing have had real earnings grow 3.5 and 2.4 percent
points. New hires in other industries saw no growth in earnings while
incumbents actually have seen a decline in real earnings during the study time
period 2000-2011.
Other
good news can be gleaned from the data.
The smaller gap between new hires and incumbents can
indicate a higher
skill and/or education level of the new hires joining the manufacturing
workforce. This reflects the industry’s need for multi-skilled technicians to
operate and maintain the increasingly sophisticated automated machinery that is
being added to most manufacturing facilities across the country. This is certainly
the direction we see with our manufacturing partners in Florida who are looking
for more skilled and educated workers to grow their workforce.
The full
report is available from the U.S. Department of Commerce Economics and
Statistics Administration at www.esa.doc.gov. Write
your thoughts and continue the discussion below this blog post, or on our Facebook page.
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