Manufacturing facts: The sector's falling unit labor costs increase global competitiveness

02/19/2013

This week's excerpt from The Facts About Modern Manufacturing: Between 2000 and 2011, U.S. manufacturing's unit labor costs declined by an average annual rate of 1.6%. Based on data for major manufacturing countries (excluding China), just four -- Taiwan, Japan, the Czech Republic and Singapore -- experienced larger declines. The decline in unit labor costs in the United States has occurred even though hourly labor compensation (adjusted for inflation) increased by an average annual rate of 0.9% over the decade, largely as a result of productivity growth. Manufacturing Facts

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