I recently gave a presentation on reshoring and would like to share some data that was particularly revealing:
- The average wage in China is $1.36 per hour; $2.38 per hour with labor load (US Bureau of Labor Statistics, 2008 data)
- China produces 19.8% of global manufacturing output; USA produces 19.4% (and many politicians think US manufacturing is dead…) – Industry Week: March 14, 2011
- US Productivity is 8 times that of China – it takes 100 Chinese to produce what 11.5 Americans produce – Industry Week: March 14, 2011
- China wages are growing at 17% per year, US are growing at 1.3% – BCG May 2011 Survey
- The BCG survey suggests that Chinese and US labor costs will converge by 2015
© 2011 – Rick Pay – All Rights Reserved
