August 28, 2007
Pay increases as growth slows for manufacturers
By Matthew L. Brown
Balanced trade, economic growth overseas and a competitive dollar resulted in 95 million Americans getting raises over the past 12 months, according to the National Association of Manufacturers .
The association just released its Annual Labor Day Report. In it, the association said a full 82 percent of the U.S. workforce "received real wage gains" in the last 12 months, with manufacturing workers leading the way. The gain is the largest since 2000, the association said.
The association said average yearly pay for a full-time manufacturing worker rose to $68,860 over the last year, compared to $53,500 for other private sector employees.
However, the association said job growth has slowed during the same period, and private sector employment has grown by just 1.6 percent.
The association just released its Annual Labor Day Report. In it, the association said a full 82 percent of the U.S. workforce "received real wage gains" in the last 12 months, with manufacturing workers leading the way. The gain is the largest since 2000, the association said.
The association said average yearly pay for a full-time manufacturing worker rose to $68,860 over the last year, compared to $53,500 for other private sector employees.
However, the association said job growth has slowed during the same period, and private sector employment has grown by just 1.6 percent.
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