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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

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
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.

Country Coverage

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.
 
US Burdened 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.
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

Experts

Emily Crowley

An expert in North American labor markets and a specialist in labor supply, demand and wage escalation, Ms. Crowley is a key contributor to the semi-annual Global Manufacturing and Global Construction Compensation reports and to ongoing research of labor markets on the US Gulf Coast and Western Canada. Her research provides an analytical framework to compare labor cost and escalation on a global basis. Ms. Emily Crowley received her Masters of Science in Applied Economics from the Johns Hopkins University where she focused in quantitative methods.

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Laura Hodges

Ms. Hodges is responsible for the management and operations of the Pricing and Purchasing Research team. Ms. Hodges has managed several projects on global cost analysis, including projects in Asia and South America, where the objective was to recommend the most cost-effective and efficient action in the procurement of key materials and services. She has spoken extensively on the topic of procurement pricing strategies and the global cost environment, including a presentation at the Institute of Supply Management titled, "Has China Lost Its Low-Cost Edge?" She has made presentations on the "Economic Risks to Consider Before Bidding Your Next Contract," and "Understanding and Estimating the Skilled Labor Shortage," at a conference of the Association for the Advancement of Cost Engineering. Ms. Laura Hodges holds a Bachelor of Arts in Economics from the George Washington University, U.S., and a Master of Arts in Health and Labor Economics from Duke University, U.S. She also earned an MBA from Rutgers University, Beijing, China.

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Sophie Malin

In addition to forecasting and analyzing labor markets she also produces compensation reports and is a contributing author to the quarterly labor cost articles. Prior to joining IHS Markit, Sophie worked as a consultant for an insurance technology provider, Intellect SEEC.She received a BSc degree in Economics from the University of Swansea with a year abroad studying business, law and economics at the University.

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