Annual Labor Day report indicates workers making solid gains
NAM report shows manufacturing workers gaining from year-to-year, and better than average members of the workforce.
During the past 12 months, 95 million working Americans %%MDASSML%% 82% of the workforce %%MDASSML%% received real wage gains, according to the National Association of Manufacturers ’ Annual Labor Day Report . Manufacturing workers led the way, earning 30% more than the average wage for the private sector workforce.
st year compared to the same period a year ago.
“Private sector employment has grown by just 1.6 million over the past 12 months,” Huether said. “This is half a million fewer jobs than were created this time last year, and the slowest pace in nearly three years.”
“The challenge of finding qualified workers is not just a cyclical annoyance, but rather a serious long-term problem,” he said, adding that manufacturers ranked finding qualified workers second only to health care as a major concern.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey