New U.S. Commerce Department Report: Manufacturing Jobs Provide Higher Pay, More Benefits
Specific findings from " The Benefits of Manufacturing Jobs" include:
- On average, hourly wages and salaries for manufacturing jobs are $29.75 an hour compared to $27.47 an hour for non-manufacturing jobs. Total hourly compensation, which includes employer-provided benefits, is $38.27 for workers in manufacturing jobs and $32.84 for workers in non-manufacturing jobs, a 17 percent premium.
- Even after controlling for demographic, geographic, and job characteristics, manufacturing jobs maintained significant wage and benefit premiums.
- The educational attainment of the manufacturing workforce is rising steadily. In 2011, 53 percent of all manufacturing workers had at least some college education, up from 43 percent in 1994.
- The innovative manufacturing sector relies more heavily on STEM education than non-manufacturing. For instance, nearly 1 out of 3 (32 percent) college-educated manufacturing workers has a STEM job, compared to 10 percent in non-manufacturing.
- Higher educational attainment for manufacturing workers carries higher premiums and the size of the premium, including or excluding benefits, increases consistently with educational attainment.
- Furthermore, the compensation premium has risen over the past decade across all levels of educational attainment.
In April, the Commerce Department released "Intellectual Property and the U.S. Economy: Industries in Focus," a comprehensive report co-produced by ESA and the U.S. Patent and Trademark Office (USPTO) which found that IP-intensive industries support at least 40 million jobs and contribute more than $5 trillion dollars to U.S. gross domestic product (GDP).
A full copy of the new ESA manufacturing employment report can be found online at http://www.esa.doc.gov/Reports/benefits-manufacturing-jobs.
Visit ESA's website to read more about today's report and other topics on the economy at http://www.esa.doc.gov/Follow us on Twitter @EconChiefGov.
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