Discover your next big idea at PACK EXPO Las Vegas this September
Experience a breakthrough in packaging & processing and transform your business with solutions from 2,300 suppliers spanning all industries.
REGISTER NOW & SAVE

Rise in Manufacturing Employee Earnings Expected to Slow

Manufacturing employee earnings should continue to rise through 2023, but the rate at which those earnings climb may slow.

Head
PMMI Business Intelligence: 2023 Economic Report: Guidance in an Uncertain Economy - Gauging the Risks Going Forward 2023-2024

Manufacturing hourly earnings are expected to disinflate through 2023.Manufacturing hourly earnings are expected to disinflate through 2023.PMMI Business Intelligence: 2023 Economic Report: Guidance in an Uncertain Economy - Gauging the Risks Going Forward 2023-2024The gears of the manufacturing labor market are grinding to an even slower pace in 2023, according to PMMI Business Intelligence’s 2023 report “Guidance in an Uncertain Economy: Gauging the Risks Going Forward 2023-2024.”

The rate of change in manufacturing hourly earnings remains high at 4.1%. It is taking a downward turn in 2023, though, which signifies a disinflation mode, the report says, citing research from ITR Economics.

Historically, 4.1% is a high rate, and the current average earnings of $31.3 per hour will keep climbing.  The disinflation in the rate of change will affect the speed at which those earnings climb.

State of Employment: Manufacturing and Overall

Is your palletizing solution leaving money on the floor?
Discover which palletizing technology—robotic, conventional, or hybrid—will maximize your packaging line efficiency while minimizing long-term costs in this comprehensive analysis.
Read More
Is your palletizing solution leaving money on the floor?
Break out of the ordinary: see what’s new in packaging & processing!
At PACK EXPO Las Vegas, you’ll see machinery in action and new tech from 2,300 suppliers, collaborate with experts and explore transformative solutions. Join us this September to experience a breakthrough in packaging and processing.
REGISTER NOW AND SAVE
Break out of the ordinary: see what’s new in packaging & processing!