Average wages in China’s manufacturing sector have soared above those in countries such as Brazil and Mexico, the Financial Times reports. Average hourly wages in China’s manufacturing sector trebled between 2005 and 2016 to $3.60, according to Euromonitor, while during the same period manufacturing wages fell from $2.90 an hour to $2.70 in Brazil, from $2.20 to $2.10 in Mexico, and from $4.30 to $3.60 in South Africa. Across China’s labor force as a whole, hourly incomes now exceed those in every major Latin American state apart from Chile, and are at around 70% of the level in weaker eurozone countries. The rise in Chinese manufacturing income contrasts with the decline in other countries, such as Argentina and Brazil. Even in India, which has seen rapid economic growth, manufacturing wages have flatlined since 2007 at just $0.70 an hour.
Categories
One reply on “Chinese wages higher than Brazil, Mexico”
[…] – China must now compete against countries like Mexico and Brazil where manufacturing workers earn just over $2 per hour. Productivity, which measures economic output per hour worked, remains […]