U.S. Manufacturing Wages Up 5.1% in 2022

U.S. manufacturing wages and salaries rose 1% in Q4 2022, easing from 1.3% growth in Q2 and Q3 of last year, according to the U.S. Bureau of Labor Statistics. The Q4 increase translated to 5.1% year-over-year growth (down from 5.2% as of Q3, which was the fastest pace on record).

The cost of employee benefits for manufacturers increased 3.8% in 2022. Overall compensation expenses increased 4.7%. 2/1/2023