Why are foreign nations so appealing to manufacturers? Simple economics, for starters. In 2010, compensation costs (wages and benefits) for manufacturing jobs in the U.S. were $34.74 per hour on average, according to the BLS. That’s lower than in 13 northern and western European countries, but far higher than costs in China: $1.36 per hour (in 2008), based on BLS estimates. Another manufacturing powerhouse, India, has even lower hourly compensation costs than China. consumerreports.org/cro/magazine/2013/02/made-in-america/index.htm
Posted on: Tue, 19 Nov 2013 09:14:09 +0000
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