Labor and Wage Commodity Coverage
Accurate wage rate forecasts, labor supply and productivity across more than 50 countries.
Do your strategic manufacturing or sourcing plans factor in labor market conditions such as wage rates, labor supply and productivity?
For over 40 years, our team has assisted the purchasing community with critical data, expert insight and proven forecasting models on the world’s labor markets and the key factors that drive them. Our labor and wage rate coverage provides long-term forecasts for manufacturing wages, construction and mining wages, industry-specific wage rates, skilled versus unskilled occupations, productivity, exchange rates and more.
Strategic planners, procurement officers and cost estimators leverage this service to:
- Access more accurate compensation estimates than broad inflation rates or historical trends
- Determine future labor market conditions by country
- Benchmark labor costs by industry and occupation
- Make strategic sourcing decisions
- Control costs and maintain an adequate labor supply over the life of a project or operations
- Anticipate wage trends and their key drivers
What’s Included
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Industry Analysis
Understand costs and empower negotiations with:
- Weekly Pricing Pulse – An overview of historic price movements for 10 key industrial materials indexes
- Examination of global wage trends with particular focus on North America, Europe and Asia
- Explanation of benefits, productivity and impact on overall compensation
- Detailed compensation tables: 10-year forecasts for manufacturing and construction wages
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Forecast Horizon & Updates
10-year outlook for labor costs, including total labor rates, manufacturing wages, construction wages, skilled versus unskilled occupations, and various other industry wage rates. Forecasts are quarterly and annual and updated quarterly or semi-annually.
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Labor Analysis
The Burden Wage Calculator
The US Burdened Wage Calculator estimates fully burdened wages for over 400 US industries including the manufacturing and service sectors. This tool combines the latest price and wage forecasts from P&P with data from the US Census of Manufacturers to produce a time series of wrap rates as well as fully burdened wages. Using the calculator, users can customize industry wrap rates by state and occupation providing more insight into detailed industry labor and associated overhead costs.
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Additional Modules
Global Construction Compensation Module
The Global Construction Compensation module provides hourly base-wage figures for the construction and mining industry including unskilled, skilled, engineer, and project manager occupations in the construction industry. The study surveys 38 different countries as well as regional detail in Australia, Brazil, Canada, China, Russia, and the United States. This study allows for a cross country comparison of wage levels and escalation to aid in project and operations cost analysis. Hourly figures are reported as an annual average. This study is updated on a semi-annual frequency.
Global Manufacturing Compensation Module
The Global Manufacturing Compensation module provides hourly base-wage and hourly compensation figures for the total economy and the manufacturing sector. The study surveys 54 different countries as well as regional detail in China, Mexico, and the United States. This study allows for a cross country comparison of wage levels and escalation to aid in strategic sourcing decisions. Hourly figures are reported as an annual average. This study is updated on a semi-annual frequency.
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Delivery Platform
Discover the power of Connect®
- Customize the landing page to display relevant market reports, saved items, and the most recent industry analysis
- Easily navigate market reports, industry analysis, and publications to find the insights you need quickly
- Leverage Cost Analyzer to search, select, and manipulate data across forecast and historical price series, production cost models, and alloy cost models
- Review the latest prices in our Material Price Table
- Access in one click your saved workbooks, dashboards, and charts
- Enhance analysis through improved search, dynamic charting, easily accessible data
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