About the Author

Katelynn Harris is an economist in the Office of Employment and Unemployment Statistics, U.S. Bureau of Labor Statistics.

Michael D. McCall
cesinfo@bls.gov

Michael D. McCall is an economist in the Office of Employment and Unemployment Statistics, U.S. Bureau of Labor Statistics.

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Article

December 2019

The relative weakness in earnings of production workers in manufacturing, 1990–2018

Although manufacturing industries had a reputation for stable, well-paying jobs for much of the 20th century, shifts within the industry in the last several decades have considerably altered that picture. Since 1990, average hourly earnings trends in the various manufacturing industries have been disparate, with a few industries showing strong growth but many others showing growth rates that are lower than those of the total private sector. In fact, average hourly earnings of production and nonsupervisory workers in the total private sector have recently surpassed those of their counterparts in the relatively high-paying durable goods portion of manufacturing.

Until recently, the U.S. economy has been defined by its manufacturing capabilities. Manufacturing had historically been the dominant sector in terms of value of the output produced, and the pay earned by production workers in manufacturing has long served as a marker for what constitutes middle-class status in the United States.[1] But that status has changed over the last several decades, as the service-providing sector has grown to replace manufacturing as the dominant driver of employment growth. Despite some recent job gains, most manufacturing industries have shed workers at high rates since 1990, and many employers in the industry have substantially reduced the growth rate of their workers’ earnings—or, in some cases, they have even reduced the wages paid to their remaining workers. As a result, average hourly earnings of production workers in manufacturing have fallen below those of total private sector workers.[2] (See table 1.)

Table 1. Employment and average hourly earnings of production and nonsupervisory workers in total private and production workers in manufacturing, not seasonally adjusted, 1990 and 2018 annual averages
Industry	Employment	Percent of total private employment	Average hourly earnings (AHE)	Percent of total private AHE
1990
Total Private	73,721,000	—	$10.20	—
Manufacturing	12,669,000	17.2%	10.78	105.7%
Durable goods	7,397,000	10.0	11.40	111.8
Nondurable goods	5,272,000	7.2	9.87	96.8
2018
Total Private	104,319,000	—	22.71	—
Manufacturing	8,899,000	8.5	21.54	94.8
Durable goods	5,463,000	5.2	22.51	99.1
Nondurable goods	3,436,000	3.3	19.96	87.9
Note: Dash = not applicable. Source: U.S. Bureau of Labor Statistics.

In 1990, average hourly earnings of production workers in manufacturing ($10.78) were about 6 percent greater than those of production or nonsupervisory workers in the total private sector ($10.20). By 2018, however, manufacturing workers were earning approximately 5 percent less ($21.54) than their total private sector counterparts ($22.71). Over this same period, manufacturing production workers’ share of total private sector employment fell by half, from 17.2 percent in 1990 to 8.5 percent in 2018. This article analyzes earnings trends in manufacturing since 1990 and examines some of the component industries that have driven these broader trends. All earnings data cited in this article are from the U.S. Bureau of Labor Statistics (BLS) Current Employment Statistics (CES) survey and exclude all forms of benefits and other compensation employees may receive (other than their pay).[3]

Earnings of production and nonsupervisory employees

Production workers made up 70.1 percent of all manufacturing workers in 2018—down slightly from 71.6 percent in 1990.[4] Within manufacturing, production workers make up an array of workers, including “working supervisors or group leaders who may be ‘in charge’ of some employees, but whose supervisory functions are only incidental to their regular work.”[5] In this article, earnings for production workers in manufacturing are compared with earnings for construction workers in construction, production workers in mining and logging, and nonsupervisory workers in private service-providing industries. Although the definitions of these worker categories differ slightly, the workers are analytically comparable and together constitute all production and nonsupervisory employees in the total private sector.[6]

Long-term analysis is particularly well-suited for earnings of production and nonsupervisory employees because these data are available over a much longer period than earnings for all employees. Although earnings measures for all employees within manufacturing are currently available, the data series only goes back to March 2006.

Average hourly earnings of production and nonsupervisory employees by industry

In 1990, average hourly earnings for production workers in manufacturing as a whole were above those of production and nonsupervisory employees in the total private sector, but this was not true across all component industries within manufacturing. Production workers in durable goods manufacturing earned 12 percent more, on average, than their counterparts in the total private sector, while workers in nondurables goods manufacturing earned 3 percent less than comparable workers in the total private sector. Moreover, the spread in earnings among workers in the various manufacturing industries was quite large, with those in petroleum and coal products earning $17.00 per hour, on average, and apparel workers earning $6.22 per hour, a difference of $10.78. (See table 2.)

Table 2. Employment and average hourly earnings of production and nonsupervisory workers, total private, manufacturing, and selected other industries, not seasonally adjusted, 1990 and 2018 annual averages
Industry	1990		2018		Annualized percent change, 1990 to 2018
Industry	Employment	Average hourly earnings	Employment	Average hourly earnings	Employment	Average hourly earnings
Total private	73,721,000	$10.20	104,319,000	$22.71	1.2%	2.9%
Manufacturing	12,669,000	10.78	8,899,000	21.54	-1.3	2.5
Durable goods	7,397,000	11.40	5,463,000	22.51	-1.1	2.5
Wood products	451,500	8.82	319,000	17.88	-1.2	2.6
Nonmetallic mineral products	413,200	11.11	309,900	21.41	-1.0	2.4
Primary metals	525,100	12.97	293,600	23.31	-2.1	2.1
Fabricated metal products	1,190,100	10.64	1,084,900	20.55	-0.3	2.4
Machinery	938,900	11.73	718,200	23.06	-1.0	2.4
Computer and electronic parts	980,200	10.89	613,100	25.09	-1.7	3.0
Electrical equipment and appliances	465,200	10.00	260,500	20.59	-2.0	2.6
Transportation equipment	1,473,400	14.44	1,188,300	26.32	-0.8	2.2
Motor vehicles and parts	869,500	15.00	778,700	22.77	-0.4	1.5
Furniture and related products	475,200	8.53	291,500	17.86	-1.7	2.7
Miscellaneous durable goods	484,200	8.87	384,100	19.14	-0.8	2.8
Nondurable goods	5,272,000	9.87	3,436,000	19.96	-1.5	2.5
Food manufacturing	1,165,000	9.04	1,271,500	17.49	0.3	2.4
Textile mills	417,900	8.17	87,700	16.46	-5.4	2.5
Textile product mills	194,900	7.37	85,600	15.31	-2.9	2.6
Apparel	805,200	6.22	80,900	15.32	-7.9	3.3
Paper and paper products	493,200	12.06	276,100	21.88	-2.1	2.2
Printing and related support activities	597,600	11.11	294,900	18.74	-2.5	1.9
Petroleum and coal products	97,500	17.00	77,400	40.32	-0.8	3.1
Chemicals	620,300	12.85	547,700	25.46	-0.4	2.5
Plastics and rubber products	646,700	9.76	548,100	18.49	-0.6	2.3
Miscellaneous nondurable goods	233,800	10.28	165,700	20.11	-1.2	2.4
Mining and logging	538,000	13.40	544,000	28.30	0.0	2.7
Construction	4,115,000	13.42	5,438,000	27.74	1.0	2.6
Wholesale trade	4,167,500	11.55	4,698,000	25.18	0.4	2.8
Retail trade	11,311,000	7.71	13,529,200	15.91	0.6	2.6
Transportation and warehousing	2,943,200	12.50	4,721,000	21.84	1.7	2.0
Utilities	584,900	16.14	444,700	36.77	-1.0	3.0
Information	1,866,000	13.40	2,278,000	31.93	0.7	3.1
Financial activities	4,973,000	9.98	6,637,000	26.94	1.0	3.6
Credit intermediation and related services	1,808,100	9.06	2,015,000	23.72	0.4	3.5
Real estate	849,100	8.71	1,255,800	21.69	1.4	3.3
Rental and leasing	415,000	8.49	458,400	20.45	0.4	3.2
Professional and business services	8,915,000	11.15	17,123,000	26.81	2.4	3.2
Professional and technical services	3,499,800	14.00	7,255,900	35.41	2.6	3.4
Management of companies and enterprises	1,279,900	11.11	1,540,200	28.86	0.7	3.5
Administrative and waste services	4,135,100	8.48	8,326,700	18.32	2.5	2.8
Education and health services	9,784,000	9.98	20,788,000	23.65	2.7	3.1
Healthcare	7,344,400	10.42	14,121,200	25.92	2.4	3.3
Social assistance	966,900	6.99	3,478,400	14.84	4.7	2.7
Leisure and hospitality	8,299,000	6.02	14,382,000	13.87	2.0	3.0
Other services	3,555,000	9.08	4,839,000	20.78	1.1	3.0
Source: U.S. Bureau of Labor Statistics.

In 1990, workers in seven nonmanufacturing sectors earned more per hour than workers in manufacturing, while workers in five nonmanufacturing sectors—leisure and hospitality, retail trade, financial activities, education and health services, and other services—earned less than workers in manufacturing. By 2018, hourly earnings in manufacturing exceeded those of only three other major industries: leisure and hospitality, retail trade, and other services. In that same year, workers in financial activities and in private education and health services earned more than manufacturing workers. Furthermore, the spread in hourly earnings among the various manufacturing industries remained large nearly three decades later, with workers in petroleum and coal products earning $40.32 per hour, $25 more than workers in textile product mills.

Average hourly earnings of production and nonsupervisory workers, total private and manufacturing

On an annualized basis, hourly earnings of manufacturing workers rose by 2.5 percent per year from 1990 to 2018, while private sector average earnings rose by 2.9 percent. As a result of this disparity in the rate of growth over the period, the level of the two data series converged in July 2006. Since then, earnings in manufacturing have remained below those of private sector workers, on average. Several factors contributed to this change. First, as previously noted, hourly earnings in manufacturing rose more slowly over the period than total private hourly earnings. Second, hourly earnings are weighted by employment. Thus, because workers in durable goods industries generally earn more per hour than those in nondurable goods, the loss of 98,000 more jobs in durable goods than in nondurable goods over the period pulled the hourly earnings average for manufacturing down further.[7] In fact, hourly earnings of workers in the durable goods industries fell below those of total private sector workers in 2015, and they have remained below them since then. (See figure 1.)

⁠

Figure 1. Average hourly earnings of production and nonsupervisory workers, total private, manufacturing, durable goods, and nondurable goods, seasonally adjusted, 1990–2018
Month	Total private	Manufacturing	Durable goods	Nondurable goods
Jan 1990	$10.02	$10.52	$11.09	$9.68
Feb 1990	10.07	10.64	11.27	9.71
Mar 1990	10.11	10.70	11.32	9.77
Apr 1990	10.12	10.68	11.29	9.79
May 1990	10.16	10.74	11.36	9.82
Jun 1990	10.20	10.78	11.41	9.85
Jul 1990	10.22	10.81	11.43	9.89
Aug 1990	10.24	10.80	11.43	9.89
Sep 1990	10.28	10.86	11.51	9.93
Oct 1990	10.30	10.92	11.57	9.97
Nov 1990	10.32	10.88	11.49	10.02
Dec 1990	10.34	10.93	11.57	10.01
Jan 1991	10.38	10.97	11.63	10.04
Feb 1991	10.39	10.97	11.62	10.06
Mar 1991	10.41	11.00	11.64	10.09
Apr 1991	10.46	11.05	11.71	10.11
May 1991	10.49	11.09	11.76	10.15
Jun 1991	10.51	11.13	11.80	10.18
Jul 1991	10.54	11.18	11.89	10.18
Aug 1991	10.56	11.18	11.88	10.20
Sep 1991	10.58	11.21	11.93	10.22
Oct 1991	10.59	11.25	11.97	10.25
Nov 1991	10.61	11.26	11.97	10.28
Dec 1991	10.64	11.27	11.96	10.31
Jan 1992	10.65	11.24	11.91	10.32
Feb 1992	10.67	11.30	11.99	10.35
Mar 1992	10.69	11.32	12.01	10.38
Apr 1992	10.72	11.36	12.04	10.42
May 1992	10.74	11.39	12.08	10.44
Jun 1992	10.77	11.41	12.11	10.44
Jul 1992	10.79	11.43	12.14	10.46
Aug 1992	10.82	11.46	12.16	10.50
Sep 1992	10.83	11.45	12.12	10.54
Oct 1992	10.85	11.47	12.16	10.53
Nov 1992	10.87	11.49	12.18	10.54
Dec 1992	10.89	11.51	12.21	10.55
Jan 1993	10.93	11.55	12.25	10.57
Feb 1993	10.95	11.57	12.28	10.60
Mar 1993	10.99	11.58	12.29	10.61
Apr 1993	10.99	11.63	12.34	10.66
May 1993	11.01	11.65	12.37	10.67
Jun 1993	11.03	11.68	12.40	10.68
Jul 1993	11.05	11.69	12.40	10.72
Aug 1993	11.07	11.72	12.43	10.74
Sep 1993	11.10	11.76	12.47	10.78
Oct 1993	11.13	11.79	12.51	10.78
Nov 1993	11.15	11.83	12.58	10.79
Dec 1993	11.18	11.88	12.64	10.82
Jan 1994	11.20	11.90	12.64	10.84
Feb 1994	11.25	11.97	12.72	10.91
Mar 1994	11.25	11.95	12.69	10.89
Apr 1994	11.27	11.96	12.71	10.89
May 1994	11.29	11.98	12.73	10.92
Jun 1994	11.31	12.00	12.75	10.94
Jul 1994	11.35	12.03	12.78	10.97
Aug 1994	11.36	12.06	12.80	10.98
Sep 1994	11.39	12.09	12.84	11.01
Oct 1994	11.43	12.12	12.86	11.04
Nov 1994	11.45	12.15	12.91	11.06
Dec 1994	11.48	12.17	12.92	11.07
Jan 1995	11.48	12.20	12.93	11.11
Feb 1995	11.53	12.24	12.98	11.15
Mar 1995	11.55	12.24	12.97	11.17
Apr 1995	11.56	12.25	12.94	11.24
May 1995	11.60	12.28	12.98	11.23
Jun 1995	11.63	12.31	13.01	11.27
Jul 1995	11.67	12.39	13.10	11.33
Aug 1995	11.69	12.39	13.09	11.36
Sep 1995	11.73	12.41	13.11	11.37
Oct 1995	11.75	12.44	13.11	11.42
Nov 1995	11.78	12.45	13.12	11.44
Dec 1995	11.81	12.49	13.15	11.49
Jan 1996	11.86	12.60	13.26	11.59
Feb 1996	11.87	12.56	13.24	11.52
Mar 1996	11.89	12.50	13.13	11.55
Apr 1996	11.96	12.69	13.39	11.61
May 1996	11.98	12.71	13.42	11.62
Jun 1996	12.03	12.76	13.47	11.66
Jul 1996	12.06	12.80	13.54	11.67
Aug 1996	12.09	12.82	13.55	11.71
Sep 1996	12.13	12.85	13.58	11.72
Oct 1996	12.16	12.83	13.54	11.74
Nov 1996	12.20	12.88	13.57	11.81
Dec 1996	12.24	12.95	13.65	11.87
Jan 1997	12.29	12.99	13.70	11.89
Feb 1997	12.32	12.99	13.69	11.91
Mar 1997	12.36	13.04	13.73	11.95
Apr 1997	12.39	13.03	13.73	11.94
May 1997	12.44	13.07	13.77	11.98
Jun 1997	12.46	13.09	13.78	12.00
Jul 1997	12.50	13.10	13.78	12.03
Aug 1997	12.57	13.17	13.85	12.09
Sep 1997	12.60	13.18	13.85	12.11
Oct 1997	12.67	13.29	13.99	12.17
Nov 1997	12.72	13.33	14.04	12.20
Dec 1997	12.75	13.35	14.07	12.21
Jan 1998	12.79	13.34	14.02	12.26
Feb 1998	12.83	13.39	14.06	12.30
Mar 1998	12.87	13.43	14.10	12.36
Apr 1998	12.92	13.40	14.03	12.38
May 1998	12.97	13.45	14.08	12.43
Jun 1998	12.99	13.43	14.05	12.43
Jul 1998	13.01	13.34	13.89	12.48
Aug 1998	13.07	13.46	14.06	12.51
Sep 1998	13.11	13.52	14.10	12.58
Oct 1998	13.15	13.52	14.12	12.57
Nov 1998	13.18	13.55	14.14	12.58
Dec 1998	13.22	13.56	14.16	12.59
Jan 1999	13.27	13.59	14.18	12.64
Feb 1999	13.30	13.63	14.24	12.66
Mar 1999	13.33	13.69	14.30	12.70
Apr 1999	13.38	13.73	14.34	12.74
May 1999	13.43	13.80	14.41	12.81
Jun 1999	13.47	13.86	14.48	12.85
Jul 1999	13.52	13.91	14.54	12.88
Aug 1999	13.54	13.93	14.56	12.91
Sep 1999	13.61	13.99	14.60	13.00
Oct 1999	13.64	13.99	14.60	12.99
Nov 1999	13.66	14.01	14.61	13.03
Dec 1999	13.70	14.06	14.66	13.07
Jan 2000	13.75	14.13	14.76	13.09
Feb 2000	13.80	14.14	14.76	13.13
Mar 2000	13.85	14.17	14.78	13.17
Apr 2000	13.90	14.23	14.85	13.21
May 2000	13.94	14.23	14.82	13.24
Jun 2000	13.99	14.30	14.90	13.30
Jul 2000	14.03	14.33	14.93	13.32
Aug 2000	14.07	14.36	14.96	13.37
Sep 2000	14.12	14.40	15.01	13.38
Oct 2000	14.17	14.48	15.10	13.46
Nov 2000	14.24	14.52	15.13	13.49
Dec 2000	14.29	14.50	15.10	13.52
Jan 2001	14.30	14.48	15.04	13.55
Feb 2001	14.36	14.55	15.14	13.59
Mar 2001	14.43	14.58	15.18	13.61
Apr 2001	14.45	14.63	15.23	13.65
May 2001	14.50	14.69	15.31	13.68
Jun 2001	14.55	14.74	15.37	13.72
Jul 2001	14.56	14.82	15.47	13.78
Aug 2001	14.60	14.85	15.48	13.82
Sep 2001	14.63	14.89	15.52	13.88
Oct 2001	14.66	14.89	15.53	13.89
Nov 2001	14.71	14.96	15.62	13.91
Dec 2001	14.75	15.01	15.69	13.94
Jan 2002	14.77	15.05	15.73	13.97
Feb 2002	14.78	15.12	15.82	14.00
Mar 2002	14.83	15.15	15.88	14.02
Apr 2002	14.84	15.17	15.89	14.03
May 2002	14.88	15.24	15.97	14.09
Jun 2002	14.94	15.27	16.01	14.12
Jul 2002	14.98	15.30	16.02	14.18
Aug 2002	15.02	15.34	16.07	14.18
Sep 2002	15.06	15.37	16.11	14.22
Oct 2002	15.12	15.45	16.20	14.29
Nov 2002	15.15	15.48	16.25	14.28
Dec 2002	15.20	15.53	16.26	14.40
Jan 2003	15.22	15.58	16.32	14.44
Feb 2003	15.29	15.63	16.35	14.50
Mar 2003	15.28	15.64	16.35	14.55
Apr 2003	15.28	15.63	16.33	14.54
May 2003	15.33	15.69	16.40	14.58
Jun 2003	15.36	15.72	16.44	14.59
Jul 2003	15.40	15.76	16.47	14.66
Aug 2003	15.42	15.78	16.49	14.68
Sep 2003	15.42	15.83	16.56	14.70
Oct 2003	15.43	15.83	16.53	14.73
Nov 2003	15.47	15.90	16.59	14.80
Dec 2003	15.47	15.92	16.61	14.81
Jan 2004	15.51	15.95	16.62	14.87
Feb 2004	15.54	15.98	16.66	14.90
Mar 2004	15.56	16.01	16.69	14.93
Apr 2004	15.59	16.05	16.72	14.99
May 2004	15.64	16.07	16.74	15.00
Jun 2004	15.67	16.11	16.76	15.06
Jul 2004	15.70	16.12	16.75	15.10
Aug 2004	15.73	16.20	16.86	15.14
Sep 2004	15.78	16.29	16.98	15.19
Oct 2004	15.81	16.27	16.96	15.14
Nov 2004	15.84	16.31	17.01	15.16
Dec 2004	15.86	16.34	17.06	15.17
Jan 2005	15.90	16.38	17.11	15.19
Feb 2005	15.93	16.44	17.19	15.19
Mar 2005	15.97	16.44	17.18	15.22
Apr 2005	16.01	16.46	17.21	15.21
May 2005	16.04	16.53	17.28	15.30
Jun 2005	16.08	16.54	17.29	15.29
Jul 2005	16.15	16.57	17.34	15.28
Aug 2005	16.17	16.63	17.42	15.29
Sep 2005	16.19	16.59	17.36	15.30
Oct 2005	16.29	16.69	17.49	15.33
Nov 2005	16.30	16.68	17.49	15.28
Dec 2005	16.36	16.68	17.50	15.29
Jan 2006	16.42	16.70	17.52	15.31
Feb 2006	16.48	16.70	17.52	15.31
Mar 2006	16.54	16.72	17.54	15.30
Apr 2006	16.64	16.75	17.58	15.32
May 2006	16.65	16.77	17.62	15.31
Jun 2006	16.72	16.78	17.64	15.30
Jul 2006	16.78	16.78	17.66	15.26
Aug 2006	16.83	16.83	17.71	15.31
Sep 2006	16.87	16.83	17.73	15.30
Oct 2006	16.94	16.91	17.81	15.36
Nov 2006	16.98	16.92	17.85	15.35
Dec 2006	17.04	16.99	17.91	15.41
Jan 2007	17.09	17.01	17.93	15.44
Feb 2007	17.15	17.05	17.97	15.50
Mar 2007	17.22	17.10	18.03	15.51
Apr 2007	17.27	17.20	18.13	15.62
May 2007	17.34	17.23	18.17	15.64
Jun 2007	17.42	17.29	18.24	15.66
Jul 2007	17.46	17.29	18.22	15.69
Aug 2007	17.50	17.35	18.30	15.73
Sep 2007	17.56	17.37	18.32	15.75
Oct 2007	17.58	17.36	18.32	15.73
Nov 2007	17.63	17.44	18.38	15.86
Dec 2007	17.69	17.44	18.37	15.86
Jan 2008	17.74	17.50	18.43	15.92
Feb 2008	17.80	17.57	18.53	15.95
Mar 2008	17.88	17.63	18.57	16.04
Apr 2008	17.92	17.63	18.60	15.98
May 2008	17.98	17.69	18.66	16.06
Jun 2008	18.04	17.75	18.73	16.12
Jul 2008	18.10	17.80	18.78	16.16
Aug 2008	18.18	17.80	18.76	16.21
Sep 2008	18.20	17.83	18.77	16.29
Oct 2008	18.25	17.90	18.83	16.38
Nov 2008	18.32	17.95	18.94	16.36
Dec 2008	18.38	18.00	18.98	16.41
Jan 2009	18.40	18.01	18.99	16.47
Feb 2009	18.45	18.09	19.11	16.49
Mar 2009	18.50	18.13	19.21	16.47
Apr 2009	18.52	18.16	19.25	16.51
May 2009	18.53	18.13	19.26	16.47
Jun 2009	18.56	18.17	19.29	16.54
Jul 2009	18.59	18.29	19.49	16.50
Aug 2009	18.67	18.32	19.48	16.60
Sep 2009	18.70	18.42	19.56	16.73
Oct 2009	18.74	18.38	19.55	16.66
Nov 2009	18.81	18.42	19.59	16.69
Dec 2009	18.84	18.42	19.60	16.67
Jan 2010	18.89	18.43	19.63	16.67
Feb 2010	18.92	18.47	19.71	16.65
Mar 2010	18.92	18.47	19.67	16.69
Apr 2010	18.96	18.51	19.69	16.74
May 2010	19.01	18.58	19.76	16.82
Jun 2010	19.03	18.57	19.75	16.80
Jul 2010	19.04	18.63	19.82	16.81
Aug 2010	19.11	18.65	19.81	16.90
Sep 2010	19.11	18.71	19.90	16.92
Oct 2010	19.20	18.73	19.93	16.91
Nov 2010	19.21	18.76	19.96	16.92
Dec 2010	19.22	18.80	20.04	16.88
Jan 2011	19.32	18.89	20.12	16.99
Feb 2011	19.31	18.91	20.16	16.98
Mar 2011	19.31	18.90	20.12	16.99
Apr 2011	19.37	18.91	20.13	17.00
May 2011	19.41	18.92	20.11	17.05
Jun 2011	19.42	18.90	20.06	17.08
Jul 2011	19.47	18.93	20.09	17.11
Aug 2011	19.48	18.90	20.03	17.12
Sep 2011	19.49	18.91	20.06	17.09
Oct 2011	19.56	18.98	20.17	17.09
Nov 2011	19.56	18.96	20.13	17.08
Dec 2011	19.56	19.00	20.13	17.18
Jan 2012	19.58	19.02	20.15	17.19
Feb 2012	19.59	19.00	20.14	17.16
Mar 2012	19.65	19.02	20.12	17.22
Apr 2012	19.69	19.09	20.19	17.31
May 2012	19.68	19.04	20.13	17.25
Jun 2012	19.72	19.08	20.19	17.28
Jul 2012	19.75	19.11	20.18	17.36
Aug 2012	19.74	19.05	20.16	17.24
Sep 2012	19.79	19.06	20.17	17.28
Oct 2012	19.79	19.09	20.16	17.37
Nov 2012	19.84	19.13	20.21	17.39
Dec 2012	19.89	19.13	20.24	17.33
Jan 2013	19.94	19.16	20.21	17.47
Feb 2013	19.99	19.21	20.20	17.61
Mar 2013	20.02	19.21	20.24	17.52
Apr 2013	20.05	19.23	20.25	17.55
May 2013	20.06	19.24	20.27	17.56
Jun 2013	20.12	19.27	20.34	17.53
Jul 2013	20.14	19.26	20.34	17.51
Aug 2013	20.18	19.31	20.37	17.56
Sep 2013	20.23	19.33	20.42	17.54
Oct 2013	20.25	19.35	20.44	17.56
Nov 2013	20.31	19.40	20.48	17.61
Dec 2013	20.33	19.46	20.56	17.67
Jan 2014	20.40	19.46	20.56	17.67
Feb 2014	20.50	19.49	20.58	17.69
Mar 2014	20.48	19.53	20.65	17.68
Apr 2014	20.51	19.48	20.58	17.66
May 2014	20.55	19.51	20.65	17.63
Jun 2014	20.57	19.54	20.64	17.70
Jul 2014	20.61	19.59	20.70	17.74
Aug 2014	20.67	19.60	20.68	17.80
Sep 2014	20.68	19.59	20.68	17.78
Oct 2014	20.71	19.65	20.74	17.83
Nov 2014	20.76	19.65	20.73	17.86
Dec 2014	20.72	19.63	20.71	17.87
Jan 2015	20.81	19.65	20.72	17.90
Feb 2015	20.84	19.73	20.82	17.93
Mar 2015	20.88	19.77	20.87	17.98
Apr 2015	20.92	19.80	20.89	18.03
May 2015	20.99	19.86	20.97	18.06
Jun 2015	21.01	19.89	20.98	18.11
Jul 2015	21.03	19.95	21.01	18.23
Aug 2015	21.08	19.99	21.05	18.25
Sep 2015	21.11	20.07	21.07	18.45
Oct 2015	21.20	20.06	21.09	18.38
Nov 2015	21.20	20.06	21.10	18.36
Dec 2015	21.24	20.12	21.18	18.39
Jan 2016	21.31	20.16	21.23	18.42
Feb 2016	21.36	20.20	21.28	18.43
Mar 2016	21.40	20.27	21.36	18.49
Apr 2016	21.46	20.39	21.48	18.61
May 2016	21.48	20.41	21.48	18.68
Jun 2016	21.53	20.48	21.55	18.75
Jul 2016	21.58	20.49	21.53	18.80
Aug 2016	21.61	20.56	21.59	18.90
Sep 2016	21.63	20.54	21.56	18.92
Oct 2016	21.71	20.58	21.60	18.94
Nov 2016	21.73	20.61	21.61	19.00
Dec 2016	21.77	20.62	21.62	19.01
Jan 2017	21.82	20.61	21.62	18.99
Feb 2017	21.86	20.64	21.62	19.08
Mar 2017	21.89	20.69	21.67	19.11
Apr 2017	21.94	20.76	21.74	19.21
May 2017	21.98	20.81	21.80	19.21
Jun 2017	22.03	20.85	21.83	19.31
Jul 2017	22.08	20.92	21.92	19.35
Aug 2017	22.11	20.95	21.96	19.36
Sep 2017	22.19	21.00	22.00	19.40
Oct 2017	22.18	21.07	22.07	19.47
Nov 2017	22.24	21.12	22.12	19.54
Dec 2017	22.31	21.23	22.24	19.62
Jan 2018	22.36	21.29	22.28	19.71
Feb 2018	22.40	21.34	22.29	19.80
Mar 2018	22.49	21.39	22.33	19.87
Apr 2018	22.55	21.46	22.44	19.88
May 2018	22.62	21.43	22.39	19.90
Jun 2018	22.67	21.48	22.47	19.86
Jul 2018	22.71	21.46	22.47	19.83
Aug 2018	22.80	21.55	22.55	19.92
Sep 2018	22.86	21.62	22.61	20.00
Oct 2018	22.90	21.69	22.63	20.13
Nov 2018	22.99	21.78	22.72	20.23
Dec 2018	23.09	21.85	22.81	20.25

Average weekly earnings of manufacturing workers and total private workers

In January 1990, average weekly earnings of manufacturing workers were 24.7 percent higher than those of private sector workers, and by the close of 2018, that figure had fallen to 18.4 percent.[8] (See table 3.)

Table 3. Average weekly earnings in manufacturing and percent difference from total private, annual averages, not seasonally adjusted
Industry	1990	Percent difference	2018	Percent difference
Total private	$349.63	—	$767.08	—
Manufacturing	436.13	24.7%	908.08	18.4%
Durable goods	468.43	34.0	956.88	24.7
Nonduarble goods	390.65	11.7	830.08	8.2
Note: Dash = not applicable. Source: U.S. Bureau of Labor Statistics

Over the 1990–2018 period, weekly earnings of total private production and nonsupervisory workers grew at an annualized rate of 2.8 percent per year, while weekly earnings of manufacturing workers grew by just 2.7 percent over that period. Thus, although hourly earnings in manufacturing have been eclipsed by hourly earnings in total private, weekly earnings in manufacturing continue to be substantially higher than weekly earnings in the private sector as a whole. Average weekly earnings for any industry are the product of average hourly earnings and average weekly hours, so any differences in the trends over time between various industries’ average weekly earnings and average hourly earnings stem from changes in average weekly hours.[9]

Average weekly hours of production workers in manufacturing increased from 40.5 to 42.2 over the 1990–2018 period, while weekly hours in the total private sector decreased from 34.3 to 33.8. (See table 4.)

Table 4. Average weekly hours of production workers in manufacturing and production and nonsupervisory workers in total private, not seasonally adjusted, 1990 and 2018 annual averages
Industry	1990	2018
Total Private	34.3	33.8
Manufacturing	40.5	42.2
Durable Goods	41.1	42.5
Nondurable Goods	39.6	41.6
Source: U.S. Bureau of Labor Statistics.

Whereas more hiring in industries with lower average weekly hours—such as retail trade and leisure and hospitality—has driven down the average workweek for production and nonsupervisory workers in the total private sector, weekly hours have increased in manufacturing, while employment has declined. In addition, compared with private sector hours, manufacturing hours show greater volatility from month to month. (See figure 2.)

⁠

Figure 2. Index of average weekly hours of production and nonsupervisory workers, seasonally adjusted, 1990–2018 (1990 = 100)
Month	Total private	Manufacturing	Durable goods	Nondurable goods
Jan 1990	100.0	100.0	100.0	100.0
Feb 1990	100.0	100.2	100.2	100.0
Mar 1990	100.0	100.2	100.5	100.0
Apr 1990	99.7	100.0	99.8	100.0
May 1990	99.7	100.2	100.0	100.3
Jun 1990	100.0	100.5	100.2	100.5
Jul 1990	99.4	100.2	100.2	100.3
Aug 1990	99.7	100.0	99.8	100.0
Sep 1990	99.4	100.0	100.0	100.0
Oct 1990	99.1	99.8	99.5	99.7
Nov 1990	99.4	99.3	99.0	99.5
Dec 1990	99.4	99.5	99.3	100.0
Jan 1991	99.1	99.3	98.8	99.5
Feb 1991	99.1	99.0	98.5	99.5
Mar 1991	99.1	98.8	98.1	99.5
Apr 1991	98.8	99.0	98.5	99.7
May 1991	99.1	99.3	98.5	99.7
Jun 1991	99.1	100.0	99.5	100.3
Jul 1991	99.1	100.0	99.5	100.5
Aug 1991	99.1	100.2	99.8	100.8
Sep 1991	99.1	100.2	100.0	100.5
Oct 1991	99.1	100.2	100.0	100.8
Nov 1991	99.1	100.5	100.0	101.0
Dec 1991	99.1	100.5	100.0	101.0
Jan 1992	99.1	100.2	99.5	101.0
Feb 1992	99.1	100.5	100.0	101.0
Mar 1992	99.1	100.5	100.2	101.0
Apr 1992	99.7	101.0	101.0	101.0
May 1992	99.7	101.0	100.7	101.3
Jun 1992	99.4	100.7	100.5	101.0
Jul 1992	99.4	100.7	100.5	100.8
Aug 1992	99.4	100.7	100.5	101.0
Sep 1992	99.7	100.5	100.0	101.3
Oct 1992	99.4	100.7	100.5	101.0
Nov 1992	99.4	101.0	100.7	101.0
Dec 1992	99.7	101.0	100.7	101.0
Jan 1993	99.7	101.5	101.5	101.8
Feb 1993	99.7	101.5	101.5	101.5
Mar 1993	99.1	100.7	101.0	100.3
Apr 1993	100.0	102.2	102.4	101.8
May 1993	99.7	101.2	101.5	101.3
Jun 1993	99.7	101.0	101.2	101.0
Jul 1993	100.0	101.5	101.7	101.3
Aug 1993	99.7	101.5	101.7	101.3
Sep 1993	100.0	102.0	102.2	101.5
Oct 1993	100.0	102.0	102.2	101.5
Nov 1993	100.0	102.0	102.4	101.5
Dec 1993	100.0	102.2	102.7	101.3
Jan 1994	100.0	102.2	102.7	101.3
Feb 1994	99.4	101.0	101.7	100.0
Mar 1994	100.3	103.0	103.4	102.3
Apr 1994	100.3	103.2	103.6	102.3
May 1994	100.3	103.2	103.6	102.3
Jun 1994	100.3	103.2	103.4	102.5
Jul 1994	100.6	103.2	103.4	102.8
Aug 1994	100.3	103.0	103.2	102.5
Sep 1994	100.3	102.7	103.2	102.3
Oct 1994	100.3	103.2	103.6	102.5
Nov 1994	100.3	103.0	103.4	102.3
Dec 1994	100.3	103.2	103.6	102.5
Jan 1995	100.3	103.2	103.9	102.3
Feb 1995	100.0	103.0	103.6	102.0
Mar 1995	100.0	102.5	102.9	101.8
Apr 1995	99.7	101.2	101.5	101.0
May 1995	99.4	101.5	101.7	101.3
Jun 1995	99.7	101.7	102.2	101.3
Jul 1995	99.7	101.5	101.7	101.0
Aug 1995	99.7	101.7	102.2	101.0
Sep 1995	99.7	101.7	102.2	101.0
Oct 1995	99.7	101.7	102.2	100.8
Nov 1995	99.7	102.0	102.4	100.8
Dec 1995	99.4	101.0	101.2	100.5
Jan 1996	98.3	98.0	98.8	96.5
Feb 1996	99.7	102.0	102.2	101.3
Mar 1996	99.7	101.5	101.5	101.3
Apr 1996	99.4	101.7	101.9	100.8
May 1996	99.7	102.2	102.4	101.3
Jun 1996	100.0	102.5	102.7	101.8
Jul 1996	99.7	102.2	102.4	101.5
Aug 1996	100.0	102.5	102.9	101.8
Sep 1996	100.0	102.7	103.2	101.8
Oct 1996	100.0	102.2	102.4	101.8
Nov 1996	100.0	102.5	102.7	102.0
Dec 1996	100.0	103.0	103.2	102.3
Jan 1997	99.7	102.2	102.4	101.8
Feb 1997	100.0	102.7	103.2	101.8
Mar 1997	100.3	103.2	103.6	102.3
Apr 1997	100.3	103.2	103.6	102.0
May 1997	100.6	103.0	103.4	102.0
Jun 1997	99.7	102.7	102.9	101.5
Jul 1997	100.3	102.7	103.2	101.8
Aug 1997	100.6	103.0	103.2	102.0
Sep 1997	100.6	103.0	103.2	102.3
Oct 1997	100.6	103.2	103.4	102.3
Nov 1997	100.3	103.2	103.4	102.5
Dec 1997	100.6	103.7	103.9	102.8
Jan 1998	100.6	103.5	103.4	102.8
Feb 1998	100.3	103.0	103.2	102.3
Mar 1998	100.3	102.7	102.7	102.3
Apr 1998	100.0	102.0	101.5	102.0
May 1998	100.6	102.5	102.2	102.3
Jun 1998	100.0	102.2	101.9	102.3
Jul 1998	100.3	102.2	101.7	102.3
Aug 1998	100.3	102.2	101.9	102.3
Sep 1998	99.7	102.0	101.5	102.0
Oct 1998	100.3	102.2	101.9	102.3
Nov 1998	100.0	102.2	102.2	102.0
Dec 1998	100.3	102.5	102.4	102.5
Jan 1999	100.0	102.0	101.7	102.3
Feb 1999	100.0	102.2	101.7	102.0
Mar 1999	99.7	102.0	101.5	102.3
Apr 1999	100.0	102.0	101.7	102.3
May 1999	99.7	102.2	101.7	102.3
Jun 1999	99.7	102.0	101.5	102.0
Jul 1999	100.0	102.2	101.9	102.3
Aug 1999	100.0	102.5	102.2	102.3
Sep 1999	99.7	102.2	102.2	102.0
Oct 1999	100.0	102.2	101.9	102.3
Nov 1999	100.0	102.2	101.7	102.3
Dec 1999	100.0	102.2	101.7	102.3
Jan 2000	100.0	102.5	102.2	102.0
Feb 2000	100.0	102.5	102.2	102.5
Mar 2000	100.0	102.2	101.9	102.0
Apr 2000	100.0	102.7	102.4	102.8
May 2000	99.7	101.7	101.5	102.0
Jun 2000	99.7	102.0	101.7	102.0
Jul 2000	99.7	102.5	102.2	102.3
Aug 2000	99.4	101.2	100.7	101.5
Sep 2000	99.7	101.5	101.0	101.8
Oct 2000	99.7	101.5	101.2	101.5
Nov 2000	99.4	101.5	101.0	101.5
Dec 2000	98.8	99.8	98.8	100.5
Jan 2001	99.4	100.2	99.5	101.3
Feb 2001	98.8	100.0	99.3	101.0
Mar 2001	99.1	100.0	99.0	100.8
Apr 2001	98.8	99.8	99.0	100.8
May 2001	98.8	99.8	98.8	100.5
Jun 2001	98.8	99.5	98.5	100.5
Jul 2001	98.8	100.5	99.5	101.0
Aug 2001	98.5	99.5	98.8	100.5
Sep 2001	98.3	99.3	98.1	100.8
Oct 2001	98.0	99.0	97.8	100.5
Nov 2001	98.3	99.0	97.8	100.5
Dec 2001	98.5	99.3	98.3	100.8
Jan 2002	98.0	99.0	98.1	100.3
Feb 2002	98.3	99.5	98.3	100.5
Mar 2002	98.5	100.0	99.0	101.3
Apr 2002	98.5	100.2	99.3	101.3
May 2002	98.5	100.2	99.3	101.5
Jun 2002	98.5	100.5	99.5	101.5
Jul 2002	98.3	99.8	98.8	101.3
Aug 2002	98.5	100.0	99.0	101.5
Sep 2002	98.5	100.0	99.0	101.0
Oct 2002	98.3	99.5	98.5	100.8
Nov 2002	98.3	99.8	98.8	100.8
Dec 2002	98.3	100.0	99.3	101.0
Jan 2003	98.3	99.5	98.8	100.3
Feb 2003	97.7	99.5	98.5	100.5
Mar 2003	98.3	99.8	98.5	101.0
Apr 2003	97.7	99.0	98.1	100.3
May 2003	98.0	99.3	98.5	100.0
Jun 2003	98.0	99.5	98.8	100.3
Jul 2003	97.7	99.0	98.5	99.7
Aug 2003	98.0	99.3	98.5	100.0
Sep 2003	97.7	100.0	99.3	100.5
Oct 2003	98.0	100.2	99.5	101.0
Nov 2003	98.3	101.0	100.5	101.5
Dec 2003	97.7	100.5	100.0	101.0
Jan 2004	98.0	101.0	100.7	101.3
Feb 2004	98.3	101.2	100.7	101.5
Mar 2004	98.0	101.0	100.7	101.3
Apr 2004	98.0	100.5	99.8	101.0
May 2004	98.3	101.5	101.0	101.8
Jun 2004	97.7	100.7	100.0	101.3
Jul 2004	98.0	100.7	100.0	101.5
Aug 2004	98.0	100.7	100.2	101.5
Sep 2004	98.0	100.7	100.0	101.3
Oct 2004	98.3	100.2	99.5	100.5
Nov 2004	98.0	100.0	99.3	100.5
Dec 2004	98.3	100.2	99.8	100.5
Jan 2005	98.0	100.5	99.8	100.8
Feb 2005	98.3	100.2	99.8	100.8
Mar 2005	98.0	99.8	99.3	100.3
Apr 2005	98.3	99.8	99.0	100.5
May 2005	98.0	99.8	99.0	100.3
Jun 2005	98.0	99.8	99.0	100.3
Jul 2005	98.0	100.0	99.3	100.3
Aug 2005	98.0	100.0	99.3	100.5
Sep 2005	98.3	100.5	100.0	100.8
Oct 2005	98.3	101.2	101.0	101.5
Nov 2005	98.3	101.0	100.7	101.0
Dec 2005	98.3	100.7	100.0	101.5
Jan 2006	98.5	101.2	100.2	102.0
Feb 2006	98.3	101.5	100.5	102.0
Mar 2006	98.3	101.5	100.7	102.0
Apr 2006	98.5	102.0	101.2	102.5
May 2006	98.3	101.7	100.7	102.5
Jun 2006	98.5	101.7	100.7	102.8
Jul 2006	98.5	102.2	101.2	103.3
Aug 2006	98.3	101.7	100.7	102.8
Sep 2006	98.3	101.5	100.0	102.8
Oct 2006	98.5	101.5	100.5	102.8
Nov 2006	98.3	101.2	100.0	102.8
Dec 2006	98.5	101.5	100.2	102.8
Jan 2007	98.3	101.2	100.0	102.8
Feb 2007	98.0	101.0	99.8	102.5
Mar 2007	98.5	102.0	100.7	103.3
Apr 2007	98.3	102.0	100.5	103.5
May 2007	98.3	101.7	100.5	103.0
Jun 2007	98.5	102.2	101.2	103.3
Jul 2007	98.3	102.0	100.7	103.3
Aug 2007	98.3	102.0	101.0	103.0
Sep 2007	98.5	102.0	101.0	103.3
Oct 2007	98.3	101.7	100.7	103.0
Nov 2007	98.3	102.0	100.7	103.3
Dec 2007	98.3	101.5	100.2	103.0
Jan 2008	98.0	101.5	100.5	102.5
Feb 2008	98.0	101.7	100.7	102.8
Mar 2008	98.3	102.0	100.7	103.0
Apr 2008	98.0	101.5	100.7	102.5
May 2008	98.0	101.2	100.2	102.5
Jun 2008	98.0	101.2	100.2	102.5
Jul 2008	97.7	101.2	100.0	102.3
Aug 2008	98.0	101.0	99.8	102.0
Sep 2008	97.7	100.0	98.8	101.5
Oct 2008	97.4	100.0	98.8	101.5
Nov 2008	97.1	99.0	97.6	101.0
Dec 2008	96.8	98.3	97.1	100.0
Jan 2009	96.5	98.0	96.6	99.7
Feb 2009	96.8	97.8	96.4	99.7
Mar 2009	96.2	97.0	95.1	99.5
Apr 2009	96.2	97.5	96.1	99.7
May 2009	95.9	97.0	95.4	99.5
Jun 2009	95.9	97.8	95.9	100.3
Jul 2009	96.2	98.5	96.8	100.8
Aug 2009	96.2	98.8	97.3	100.8
Sep 2009	96.2	98.8	97.6	100.3
Oct 2009	95.9	99.3	97.8	101.0
Nov 2009	96.5	100.0	98.5	101.8
Dec 2009	96.5	100.2	98.8	102.3
Jan 2010	96.8	100.7	99.3	102.8
Feb 2010	96.2	100.0	98.5	102.0
Mar 2010	96.8	101.2	99.8	103.0
Apr 2010	97.1	101.5	100.2	103.0
May 2010	97.1	102.2	101.2	103.8
Jun 2010	96.8	101.2	100.2	102.3
Jul 2010	97.1	101.5	100.5	102.5
Aug 2010	97.4	101.7	100.5	103.3
Sep 2010	97.4	102.2	101.0	104.0
Oct 2010	97.7	101.7	100.7	103.0
Nov 2010	97.4	102.0	101.0	102.8
Dec 2010	97.4	102.0	101.2	103.0
Jan 2011	97.1	101.5	100.7	102.0
Feb 2011	97.4	102.2	101.5	103.0
Mar 2011	97.4	102.2	101.7	102.8
Apr 2011	97.7	102.2	101.2	103.0
May 2011	97.7	102.5	101.7	103.3
Jun 2011	97.7	102.0	101.2	102.8
Jul 2011	98.0	102.2	101.5	103.0
Aug 2011	97.4	102.0	101.5	102.8
Sep 2011	97.7	102.0	101.5	102.8
Oct 2011	98.0	102.5	101.7	103.5
Nov 2011	97.7	102.5	101.5	103.3
Dec 2011	98.0	102.7	101.9	103.3
Jan 2012	98.3	103.2	102.4	104.0
Feb 2012	98.0	103.0	102.4	103.8
Mar 2012	98.0	102.7	101.9	103.3
Apr 2012	98.0	103.0	102.2	103.5
May 2012	97.7	102.7	101.9	103.3
Jun 2012	98.0	103.0	102.2	103.3
Jul 2012	98.0	103.0	102.4	103.5
Aug 2012	97.7	102.5	101.5	103.8
Sep 2012	98.0	102.5	101.5	103.8
Oct 2012	97.7	102.5	101.5	103.5
Nov 2012	98.0	102.5	101.5	104.0
Dec 2012	98.3	103.0	101.9	104.0
Jan 2013	97.7	103.0	101.7	104.0
Feb 2013	98.3	103.2	102.7	104.0
Mar 2013	98.3	103.5	102.7	104.0
Apr 2013	98.0	103.2	102.4	104.0
May 2013	98.0	103.2	102.2	104.0
Jun 2013	98.0	103.2	102.2	104.3
Jul 2013	97.4	103.0	101.9	104.0
Aug 2013	97.7	103.5	102.7	104.3
Sep 2013	98.0	103.5	102.7	103.8
Oct 2013	97.7	103.5	102.7	104.0
Nov 2013	98.0	103.5	102.9	103.8
Dec 2013	97.7	103.5	102.7	104.0
Jan 2014	97.4	102.5	101.5	103.8
Feb 2014	97.1	102.7	102.2	103.3
Mar 2014	98.0	103.7	102.9	104.5
Apr 2014	98.0	103.5	102.9	104.0
May 2014	98.0	104.0	103.4	104.3
Jun 2014	98.0	104.0	103.4	104.3
Jul 2014	98.0	103.7	102.9	104.0
Aug 2014	98.0	103.7	103.2	104.0
Sep 2014	98.0	104.2	103.6	104.5
Oct 2014	98.0	104.2	103.4	104.5
Nov 2014	98.3	104.2	103.4	105.1
Dec 2014	98.3	104.0	102.9	105.3
Jan 2015	98.0	103.7	102.7	105.1
Feb 2015	98.0	103.7	102.4	104.8
Mar 2015	98.0	103.5	102.2	104.5
Apr 2015	97.7	103.2	102.2	104.5
May 2015	97.7	103.2	102.2	104.5
Jun 2015	98.0	103.2	102.4	104.0
Jul 2015	98.0	103.2	102.2	104.3
Aug 2015	98.0	103.2	102.2	104.5
Sep 2015	97.7	103.0	101.9	104.0
Oct 2015	98.0	103.2	101.9	104.5
Nov 2015	98.0	103.2	102.2	104.3
Dec 2015	98.3	103.2	102.4	103.8
Jan 2016	98.0	103.2	102.4	104.0
Feb 2016	97.7	103.2	102.4	104.0
Mar 2016	97.7	103.0	102.2	104.0
Apr 2016	97.7	103.2	102.4	103.8
May 2016	97.7	103.2	102.7	103.8
Jun 2016	97.7	103.2	102.4	103.8
Jul 2016	97.7	103.7	103.2	103.8
Aug 2016	97.7	103.2	102.7	103.5
Sep 2016	97.7	103.5	102.7	104.0
Oct 2016	97.7	103.7	102.9	104.3
Nov 2016	97.7	103.5	102.7	104.0
Dec 2016	97.4	103.5	102.9	104.0
Jan 2017	97.7	103.7	102.9	104.3
Feb 2017	97.7	103.5	102.7	104.0
Mar 2017	97.4	103.0	102.4	103.5
Apr 2017	98.0	103.5	102.7	104.0
May 2017	97.7	103.5	102.9	104.0
Jun 2017	98.0	103.7	102.9	104.5
Jul 2017	98.0	103.7	102.4	104.8
Aug 2017	97.7	103.7	102.7	104.8
Sep 2017	97.7	103.5	102.7	104.3
Oct 2017	98.0	103.7	102.9	104.5
Nov 2017	98.0	103.7	102.7	104.8
Dec 2017	98.3	103.2	102.7	104.0
Jan 2018	97.7	103.5	102.4	104.5
Feb 2018	98.3	104.2	103.4	105.3
Mar 2018	98.0	104.2	103.2	105.1
Apr 2018	98.3	104.7	103.6	105.6
May 2018	98.3	103.7	102.4	105.3
Jun 2018	98.3	104.0	103.2	104.8
Jul 2018	98.3	104.2	103.2	105.8
Aug 2018	98.3	104.2	103.4	105.1
Sep 2018	98.0	104.0	102.9	105.3
Oct 2018	98.0	104.0	103.2	104.5
Nov 2018	98.0	103.7	102.7	104.5
Dec 2018	98.0	103.7	103.2	104.3

Average weekly hours in manufacturing have consistently been 6 to 8 hours higher than average weekly hours in total private. The longer workweek has kept weekly earnings in manufacturing above weekly earnings in total private, despite hourly earnings moving in the opposite direction—in 2018, average hourly earnings ($22.71) in total private were slightly higher than average hourly earnings in manufacturing ($21.54). Thus, workers in manufacturing have had to work more hours per week to make up for their relative weakness in hourly pay. In addition, employment has declined across virtually all of the component industries in manufacturing since 1990, and hourly earnings for many production workers in manufacturing have declined to below those of production and nonsupervisory workers in the total private sector. Nevertheless, the expanding workweek in manufacturing has kept average weekly earnings in the industry above average weekly earnings in the total private sector through 2018.

Durable goods and nondurable goods

Since 1990, hourly earnings in manufacturing’s two major components, durable goods and nondurable goods, have risen more slowly than earnings in the total private sector. The relatively high average hourly earnings of production workers in durable goods manufacturing consistently kept hourly earnings higher in manufacturing than in the private sector as a whole until they converged in July 2006. Then, around 2011, hourly earnings growth in durable goods slowed to such an extent that they were relatively equal to those of the average private sector job for much of the period from 2014 to 2016. Since then, hourly earnings in durable goods have fallen slightly below those of total private. In 1990, hourly earnings in durable goods were 12 percent higher than those in the private sector. By 2018, earnings in durable goods were 1 percent lower than earnings in the total private sector.

Hourly earnings in nondurable goods have consistently been below those in the total private sector, and they have grown more slowly as well. In 1990, hourly earnings in the total private sector were 3 percent higher than those in nondurable goods. By 2018, earnings in the total private sector were 14 percent higher than earnings in nondurable goods. Similarly, hourly earnings grew more slowly in nearly all industries within durable goods than in total private over the 1990–2018 period. The motor vehicles and parts industry stands out as having the slowest rate of growth in hourly earnings among all manufacturing industries, both durables and nondurables. Within durable goods, the largest rise and the most rapid growth rate in hourly earnings over the period occurred in computer and electronic products. (See figure 3.)

⁠

Figure 3. Average hourly earnings of production workers, total private, manufacturing, and durable goods industries, seasonally adjusted, 1990–2018
Month	Total private	Machinery	Manufacturing	Computer and electronic products	Durable goods	Electrical equipment and appliances	Wood products	Transportation equipment	Nonmetallic mineral products	Motor vehicles and parts	Primary metals	Furniture and related products	Fabricated metal products	Miscellaneous durable goods manufacturing
Jan 1990	$10.02	$11.53	$10.52	$10.64	$11.09	$9.89	$8.75	$13.87	$10.97	$14.24	$12.64	$8.49	$10.49	$8.71
Feb 1990	10.07	11.55	10.64	10.70	11.27	9.92	8.77	14.33	10.96	14.92	12.82	8.46	10.53	8.75
Mar 1990	10.11	11.59	10.70	10.73	11.32	9.93	8.82	14.43	11.05	15.06	12.85	8.49	10.54	8.77
Apr 1990	10.12	11.56	10.68	10.77	11.29	9.93	8.82	14.34	11.12	14.93	12.88	8.48	10.46	8.73
May 1990	10.16	11.67	10.74	10.79	11.36	9.96	8.82	14.41	11.09	14.99	12.92	8.53	10.59	8.79
Jun 1990	10.20	11.71	10.78	10.86	11.41	9.99	8.79	14.46	11.09	15.04	12.96	8.52	10.64	8.87
Jul 1990	10.22	11.73	10.81	10.91	11.43	10.01	8.81	14.49	11.11	15.02	13.01	8.50	10.67	8.89
Aug 1990	10.24	11.79	10.80	10.95	11.43	9.97	8.80	14.47	11.11	15.04	13.01	8.54	10.67	8.91
Sep 1990	10.28	11.87	10.86	11.01	11.51	10.05	8.84	14.58	11.14	15.13	13.03	8.58	10.72	8.95
Oct 1990	10.30	11.86	10.92	11.06	11.57	10.13	8.84	14.74	11.17	15.36	13.12	8.58	10.76	8.98
Nov 1990	10.32	11.87	10.88	11.13	11.49	10.10	8.86	14.41	11.21	14.86	13.17	8.61	10.77	8.99
Dec 1990	10.34	11.96	10.93	11.18	11.57	10.12	8.88	14.58	11.25	15.06	13.17	8.61	10.80	9.06
Jan 1991	10.38	11.99	10.97	11.22	11.63	10.18	8.89	14.72	11.28	15.28	13.25	8.60	10.85	9.04
Feb 1991	10.39	12.00	10.97	11.26	11.62	10.20	8.89	14.67	11.26	15.17	13.15	8.64	10.86	9.06
Mar 1991	10.41	12.06	11.00	11.28	11.64	10.19	8.91	14.69	11.26	15.17	13.29	8.67	10.91	9.08
Apr 1991	10.46	12.11	11.05	11.28	11.71	10.24	8.97	14.91	11.30	15.40	13.24	8.71	10.92	9.10
May 1991	10.49	12.08	11.09	11.35	11.76	10.27	9.01	15.00	11.29	15.53	13.28	8.70	10.93	9.15
Jun 1991	10.51	12.11	11.13	11.35	11.80	10.30	9.09	15.10	11.35	15.66	13.34	8.73	10.95	9.17
Jul 1991	10.54	12.12	11.18	11.36	11.89	10.30	9.04	15.36	11.35	15.94	13.39	8.76	10.98	9.15
Aug 1991	10.56	12.15	11.18	11.36	11.88	10.35	9.05	15.26	11.37	15.82	13.46	8.77	11.00	9.17
Sep 1991	10.58	12.17	11.21	11.41	11.93	10.37	9.06	15.38	11.32	15.97	13.47	8.81	11.03	9.20
Oct 1991	10.59	12.23	11.25	11.42	11.97	10.38	9.08	15.45	11.39	16.01	13.52	8.81	11.06	9.18
Nov 1991	10.61	12.22	11.26	11.46	11.97	10.40	9.11	15.41	11.42	15.90	13.52	8.84	11.09	9.24
Dec 1991	10.64	12.19	11.27	11.48	11.96	10.42	9.12	15.42	11.45	15.89	13.53	8.87	11.09	9.27
Jan 1992	10.65	12.21	11.24	11.51	11.91	10.41	9.17	15.25	11.44	15.65	13.53	8.87	11.07	9.26
Feb 1992	10.67	12.25	11.30	11.53	11.99	10.42	9.20	15.42	11.44	15.83	13.55	8.91	11.10	9.33
Mar 1992	10.69	12.27	11.32	11.57	12.01	10.46	9.20	15.42	11.50	15.81	13.60	8.96	11.12	9.37
Apr 1992	10.72	12.28	11.36	11.60	12.04	10.49	9.20	15.48	11.52	15.86	13.67	8.97	11.14	9.39
May 1992	10.74	12.36	11.39	11.60	12.08	10.51	9.21	15.56	11.56	15.93	13.73	9.01	11.16	9.42
Jun 1992	10.77	12.41	11.41	11.65	12.11	10.55	9.22	15.62	11.57	15.96	13.72	9.02	11.17	9.43
Jul 1992	10.79	12.45	11.43	11.67	12.14	10.53	9.24	15.69	11.57	16.05	13.76	9.01	11.18	9.44
Aug 1992	10.82	12.46	11.46	11.69	12.16	10.51	9.27	15.74	11.60	16.07	13.79	9.04	11.21	9.48
Sep 1992	10.83	12.46	11.45	11.67	12.12	10.52	9.24	15.65	11.66	15.90	13.88	9.03	11.15	9.47
Oct 1992	10.85	12.50	11.47	11.71	12.16	10.53	9.28	15.74	11.65	16.00	13.81	9.08	11.21	9.51
Nov 1992	10.87	12.53	11.49	11.74	12.18	10.54	9.29	15.75	11.62	16.00	13.83	9.06	11.23	9.54
Dec 1992	10.89	12.55	11.51	11.71	12.21	10.54	9.31	15.80	11.63	16.05	13.87	9.10	11.25	9.53
Jan 1993	10.93	12.59	11.55	11.80	12.25	10.54	9.32	15.86	11.64	16.19	13.89	9.15	11.26	9.58
Feb 1993	10.95	12.60	11.57	11.81	12.28	10.55	9.33	15.94	11.72	16.26	13.94	9.16	11.29	9.56
Mar 1993	10.99	12.58	11.58	11.83	12.29	10.56	9.34	16.00	11.75	16.33	13.96	9.14	11.28	9.58
Apr 1993	10.99	12.67	11.63	11.88	12.34	10.61	9.35	16.07	11.75	16.42	14.00	9.14	11.35	9.61
May 1993	11.01	12.69	11.65	11.90	12.37	10.58	9.36	16.17	11.79	16.51	14.05	9.18	11.38	9.62
Jun 1993	11.03	12.70	11.68	11.93	12.40	10.59	9.39	16.19	11.79	16.54	14.10	9.21	11.41	9.63
Jul 1993	11.05	12.76	11.69	11.96	12.40	10.65	9.41	16.08	11.84	16.36	14.08	9.26	11.43	9.67
Aug 1993	11.07	12.77	11.72	12.02	12.43	10.68	9.43	16.18	11.86	16.48	14.10	9.29	11.45	9.66
Sep 1993	11.10	12.82	11.76	12.03	12.47	10.70	9.45	16.26	11.91	16.62	14.20	9.29	11.48	9.68
Oct 1993	11.13	12.82	11.79	12.05	12.51	10.71	9.48	16.41	11.90	16.79	14.13	9.33	11.48	9.70
Nov 1993	11.15	12.82	11.83	12.08	12.58	10.75	9.45	16.59	11.97	17.01	14.21	9.41	11.50	9.72
Dec 1993	11.18	12.91	11.88	12.16	12.64	10.79	9.51	16.70	11.97	17.16	14.36	9.36	11.50	9.74
Jan 1994	11.20	12.89	11.90	12.08	12.64	10.80	9.57	16.70	12.01	17.14	14.30	9.40	11.53	9.76
Feb 1994	11.25	12.93	11.97	12.16	12.72	10.94	9.56	16.80	12.01	17.25	14.42	9.42	11.55	9.79
Mar 1994	11.25	12.93	11.95	12.19	12.69	10.90	9.57	16.76	12.00	17.17	14.41	9.42	11.56	9.79
Apr 1994	11.27	12.94	11.96	12.18	12.71	10.90	9.59	16.86	12.01	17.30	14.30	9.47	11.58	9.83
May 1994	11.29	12.94	11.98	12.21	12.73	10.92	9.63	16.80	12.09	17.20	14.42	9.48	11.60	9.85
Jun 1994	11.31	12.94	12.00	12.24	12.75	10.93	9.65	16.83	12.11	17.24	14.44	9.49	11.62	9.88
Jul 1994	11.35	12.91	12.03	12.18	12.78	11.00	9.65	17.01	12.11	17.38	14.47	9.53	11.65	9.91
Aug 1994	11.36	12.91	12.06	12.20	12.80	10.95	9.67	16.99	12.15	17.46	14.52	9.51	11.67	9.94
Sep 1994	11.39	12.93	12.09	12.26	12.84	10.96	9.71	17.03	12.17	17.50	14.46	9.58	11.68	9.96
Oct 1994	11.43	12.96	12.12	12.25	12.86	10.97	9.74	17.01	12.20	17.42	14.56	9.61	11.70	9.99
Nov 1994	11.45	13.01	12.15	12.19	12.91	10.98	9.76	17.11	12.19	17.58	14.63	9.62	11.73	10.01
Dec 1994	11.48	13.02	12.17	12.15	12.92	11.02	9.75	17.14	12.24	17.62	14.68	9.65	11.75	10.06
Jan 1995	11.48	13.03	12.20	12.14	12.93	11.07	9.77	17.13	12.24	17.61	14.71	9.64	11.77	10.12
Feb 1995	11.53	13.04	12.24	12.19	12.98	11.07	9.80	17.21	12.29	17.71	14.68	9.67	11.81	10.17
Mar 1995	11.55	13.05	12.24	12.20	12.97	11.06	9.81	17.16	12.30	17.67	14.66	9.67	11.81	10.14
Apr 1995	11.56	12.98	12.25	12.27	12.94	11.08	9.84	17.03	12.36	17.48	14.76	9.70	11.79	10.12
May 1995	11.60	13.09	12.28	12.27	12.98	11.17	9.86	17.07	12.30	17.53	14.72	9.70	11.86	10.18
Jun 1995	11.63	13.10	12.31	12.28	13.01	11.22	9.90	17.12	12.31	17.57	14.74	9.75	11.87	10.22
Jul 1995	11.67	13.15	12.39	12.33	13.10	11.26	9.98	17.36	12.38	17.83	14.75	9.75	11.92	10.26
Aug 1995	11.69	13.19	12.39	12.35	13.09	11.32	9.98	17.26	12.42	17.75	14.77	9.80	11.94	10.23
Sep 1995	11.73	13.21	12.41	12.31	13.11	11.35	10.00	17.27	12.44	17.79	14.74	9.81	11.98	10.31
Oct 1995	11.75	13.23	12.44	12.32	13.11	11.43	10.01	17.26	12.50	17.87	14.80	9.82	12.01	10.32
Nov 1995	11.78	13.26	12.45	12.37	13.12	11.47	10.01	17.21	12.53	17.75	14.83	9.87	12.04	10.33
Dec 1995	11.81	13.26	12.49	12.41	13.15	11.47	10.07	17.22	12.53	17.78	14.82	9.86	12.06	10.38
Jan 1996	11.86	13.35	12.60	12.48	13.26	11.50	10.09	17.38	12.60	17.87	14.95	9.89	12.08	10.45
Feb 1996	11.87	13.31	12.56	12.51	13.24	11.53	10.09	17.40	12.60	17.87	14.91	9.91	12.10	10.44
Mar 1996	11.89	13.29	12.50	12.56	13.13	11.55	10.14	17.01	12.64	17.36	14.92	9.96	12.10	10.46
Apr 1996	11.96	13.40	12.69	12.59	13.39	11.69	10.18	17.70	12.71	18.24	15.00	10.01	12.19	10.52
May 1996	11.98	13.39	12.71	12.68	13.42	11.73	10.19	17.72	12.72	18.27	15.00	10.05	12.21	10.55
Jun 1996	12.03	13.47	12.76	12.75	13.47	11.78	10.25	17.79	12.80	18.34	15.05	10.06	12.25	10.57
Jul 1996	12.06	13.49	12.80	12.77	13.54	11.84	10.25	18.00	12.86	18.52	15.13	10.11	12.25	10.60
Aug 1996	12.09	13.57	12.82	12.81	13.55	11.97	10.29	17.85	12.87	18.38	15.20	10.13	12.33	10.64
Sep 1996	12.13	13.61	12.85	12.86	13.58	11.98	10.31	17.84	12.92	18.34	15.27	10.17	12.37	10.68
Oct 1996	12.16	13.60	12.83	12.89	13.54	11.99	10.33	17.65	12.90	18.08	15.28	10.21	12.38	10.70
Nov 1996	12.20	13.66	12.88	12.94	13.57	12.03	10.37	17.67	12.95	18.06	15.31	10.21	12.40	10.73
Dec 1996	12.24	13.70	12.95	13.03	13.65	12.07	10.37	17.85	12.94	18.32	15.33	10.29	12.46	10.73
Jan 1997	12.29	13.77	12.99	13.01	13.70	12.10	10.39	17.87	13.00	18.41	15.34	10.33	12.49	10.73
Feb 1997	12.32	13.77	12.99	12.97	13.69	12.13	10.41	17.84	13.10	18.30	15.33	10.34	12.52	10.76
Mar 1997	12.36	13.82	13.04	13.06	13.73	12.18	10.45	17.88	13.08	18.31	15.38	10.40	12.55	10.81
Apr 1997	12.39	13.88	13.03	13.09	13.73	12.17	10.47	17.91	13.01	18.32	15.19	10.38	12.59	10.80
May 1997	12.44	13.89	13.07	13.11	13.77	12.18	10.52	17.95	13.11	18.38	15.30	10.45	12.60	10.82
Jun 1997	12.46	13.90	13.09	13.14	13.78	12.20	10.51	17.92	13.12	18.35	15.33	10.51	12.59	10.88
Jul 1997	12.50	13.95	13.10	13.20	13.78	12.24	10.53	17.86	13.12	18.15	15.36	10.48	12.61	10.85
Aug 1997	12.57	13.97	13.17	13.30	13.85	12.22	10.54	17.96	13.19	18.39	15.38	10.54	12.65	10.91
Sep 1997	12.60	14.02	13.18	13.36	13.85	12.26	10.57	17.86	13.20	18.22	15.39	10.60	12.70	10.95
Oct 1997	12.67	14.07	13.29	13.45	13.99	12.38	10.61	18.28	13.28	18.76	15.57	10.61	12.75	10.95
Nov 1997	12.72	14.08	13.33	13.55	14.04	12.38	10.64	18.29	13.34	18.78	15.57	10.68	12.82	11.03
Dec 1997	12.75	14.11	13.35	13.57	14.07	12.43	10.66	18.32	13.39	18.79	15.62	10.69	12.81	11.06
Jan 1998	12.79	14.12	13.34	13.57	14.02	12.41	10.70	18.09	13.42	18.55	15.67	10.73	12.85	11.07
Feb 1998	12.83	14.15	13.39	13.62	14.06	12.43	10.72	18.20	13.54	18.68	15.69	10.80	12.87	11.09
Mar 1998	12.87	14.17	13.43	13.70	14.10	12.46	10.76	18.24	13.53	18.72	15.74	10.82	12.90	11.10
Apr 1998	12.92	14.16	13.40	13.76	14.03	12.44	10.79	18.05	13.57	18.49	15.75	10.83	12.85	11.11
May 1998	12.97	14.21	13.45	13.81	14.08	12.42	10.83	18.02	13.58	18.40	15.76	10.83	12.92	11.17
Jun 1998	12.99	14.25	13.43	13.76	14.05	12.50	10.84	17.87	13.58	18.18	15.69	10.85	12.98	11.17
Jul 1998	13.01	14.20	13.34	13.90	13.89	12.49	10.85	17.38	13.53	17.38	15.64	10.91	12.98	11.17
Aug 1998	13.07	14.25	13.46	13.91	14.06	12.56	10.91	17.81	13.59	18.06	15.64	10.91	13.01	11.19
Sep 1998	13.11	14.25	13.52	13.98	14.10	12.56	10.87	17.81	13.71	18.05	15.71	10.93	13.03	11.20
Oct 1998	13.15	14.29	13.52	14.00	14.12	12.57	10.96	17.82	13.63	17.99	15.57	10.97	13.07	11.24
Nov 1998	13.18	14.34	13.55	14.09	14.14	12.61	10.98	17.81	13.64	17.99	15.55	10.99	13.09	11.27
Dec 1998	13.22	14.36	13.56	14.13	14.16	12.63	11.00	17.74	13.68	17.88	15.56	11.06	13.12	11.31
Jan 1999	13.27	14.43	13.59	14.19	14.18	12.70	11.02	17.78	13.67	17.98	15.63	11.10	13.14	11.34
Feb 1999	13.30	14.51	13.63	14.21	14.24	12.73	11.03	17.89	13.69	18.10	15.68	11.10	13.16	11.37
Mar 1999	13.33	14.59	13.69	14.20	14.30	12.77	11.07	18.01	13.74	18.27	15.77	11.12	13.22	11.42
Apr 1999	13.38	14.66	13.73	14.25	14.34	12.83	11.09	18.14	13.79	18.41	15.72	11.14	13.23	11.48
May 1999	13.43	14.72	13.80	14.29	14.41	12.87	11.14	18.20	13.95	18.45	15.93	11.22	13.29	11.50
Jun 1999	13.47	14.75	13.86	14.34	14.48	12.91	11.17	18.38	13.93	18.70	16.06	11.25	13.28	11.53
Jul 1999	13.52	14.84	13.91	14.37	14.54	12.95	11.22	18.41	14.04	18.74	16.11	11.28	13.40	11.60
Aug 1999	13.54	14.84	13.93	14.44	14.56	12.95	11.23	18.42	14.04	18.69	16.10	11.32	13.41	11.67
Sep 1999	13.61	14.88	13.99	14.50	14.60	13.03	11.25	18.45	14.09	18.73	16.21	11.36	13.41	11.69
Oct 1999	13.64	14.98	13.99	14.54	14.60	13.02	11.28	18.33	14.13	18.56	16.20	11.43	13.46	11.69
Nov 1999	13.66	14.98	14.01	14.56	14.61	13.00	11.28	18.34	14.16	18.55	16.29	11.46	13.51	11.67
Dec 1999	13.70	15.07	14.06	14.55	14.66	13.03	11.40	18.41	14.29	18.64	16.26	11.49	13.54	11.68
Jan 2000	13.75	15.07	14.13	14.66	14.76	13.04	11.49	18.64	14.35	18.87	16.26	11.50	13.61	11.74
Feb 2000	13.80	15.06	14.14	14.69	14.76	13.08	11.51	18.56	14.33	18.82	16.44	11.54	13.62	11.79
Mar 2000	13.85	15.10	14.17	14.68	14.78	13.07	11.49	18.61	14.34	18.83	16.50	11.60	13.63	11.82
Apr 2000	13.90	15.18	14.23	14.67	14.85	13.20	11.58	18.73	14.42	18.93	16.54	11.65	13.70	11.88
May 2000	13.94	15.13	14.23	14.68	14.82	13.17	11.55	18.71	14.42	18.94	16.56	11.71	13.70	11.80
Jun 2000	13.99	15.20	14.30	14.64	14.90	13.16	11.59	18.83	14.47	19.04	16.66	11.73	13.75	11.88
Jul 2000	14.03	15.23	14.33	14.68	14.93	13.21	11.61	18.87	14.52	19.05	16.77	11.76	13.80	11.89
Aug 2000	14.07	15.30	14.36	14.70	14.96	13.24	11.65	18.94	14.63	19.13	16.75	11.81	13.82	11.92
Sep 2000	14.12	15.36	14.40	14.75	15.01	13.26	11.71	18.99	14.71	19.17	16.68	11.85	13.87	12.00
Oct 2000	14.17	15.31	14.48	14.85	15.10	13.40	11.79	19.22	14.71	19.47	16.78	11.87	13.93	12.09
Nov 2000	14.24	15.32	14.52	14.87	15.13	13.45	11.80	19.32	14.75	19.53	16.80	11.92	13.90	12.14
Dec 2000	14.29	15.35	14.50	14.93	15.10	13.51	11.82	19.11	14.70	19.27	16.87	11.85	13.92	12.22
Jan 2001	14.30	15.35	14.48	14.89	15.04	13.57	11.86	18.89	14.67	18.98	16.84	11.92	13.95	12.23
Feb 2001	14.36	15.34	14.55	14.96	15.14	13.69	11.84	19.09	14.75	19.21	16.87	12.04	14.02	12.25
Mar 2001	14.43	15.36	14.58	15.11	15.18	13.68	11.84	19.13	14.81	19.23	16.91	12.06	14.04	12.27
Apr 2001	14.45	15.36	14.63	15.32	15.23	13.71	11.87	19.12	14.80	19.24	16.99	12.17	14.06	12.35
May 2001	14.50	15.42	14.69	15.32	15.31	13.77	11.92	19.33	14.83	19.52	17.04	12.10	14.15	12.42
Jun 2001	14.55	15.46	14.74	15.48	15.37	13.90	11.96	19.40	14.86	19.55	17.07	12.13	14.19	12.46
Jul 2001	14.56	15.50	14.82	15.56	15.47	13.85	12.01	19.66	14.86	19.85	17.07	12.15	14.23	12.49
Aug 2001	14.60	15.50	14.85	15.62	15.48	13.83	12.07	19.62	14.91	19.82	17.15	12.14	14.27	12.53
Sep 2001	14.63	15.59	14.89	15.71	15.52	13.84	12.11	19.70	14.86	19.88	17.17	12.18	14.30	12.54
Oct 2001	14.66	15.61	14.89	15.71	15.53	13.84	12.08	19.78	14.82	20.01	17.14	12.24	14.30	12.55
Nov 2001	14.71	15.65	14.96	15.88	15.62	13.86	12.10	19.90	15.01	20.12	17.25	12.28	14.37	12.69
Dec 2001	14.75	15.72	15.01	15.88	15.69	13.89	12.17	20.03	15.09	20.31	17.30	12.34	14.42	12.70
Jan 2002	14.77	15.75	15.05	15.97	15.73	13.90	12.16	20.11	15.16	20.33	17.32	12.41	14.44	12.72
Feb 2002	14.78	15.85	15.12	16.02	15.82	13.91	12.23	20.29	15.30	20.56	17.51	12.44	14.49	12.76
Mar 2002	14.83	15.86	15.15	16.11	15.88	14.00	12.26	20.40	15.30	20.74	17.46	12.46	14.54	12.75
Apr 2002	14.84	15.90	15.17	15.98	15.89	13.96	12.21	20.51	15.23	20.88	17.38	12.44	14.60	12.79
May 2002	14.88	15.91	15.24	16.21	15.97	13.93	12.31	20.54	15.36	20.93	17.60	12.55	14.65	12.84
Jun 2002	14.94	15.93	15.27	16.22	16.01	13.94	12.34	20.55	15.45	21.00	17.65	12.61	14.68	12.92
Jul 2002	14.98	15.87	15.30	16.25	16.02	13.93	12.39	20.55	15.44	20.95	17.74	12.67	14.71	12.98
Aug 2002	15.02	15.95	15.34	16.29	16.07	14.01	12.41	20.67	15.40	21.18	17.75	12.73	14.71	13.00
Sep 2002	15.06	15.99	15.37	16.31	16.11	14.00	12.40	20.69	15.50	21.20	17.78	12.73	14.77	13.01
Oct 2002	15.12	15.96	15.45	16.28	16.20	14.05	12.39	21.02	15.56	21.65	17.96	12.74	14.82	13.02
Nov 2002	15.15	16.03	15.48	16.31	16.25	14.06	12.41	21.18	15.44	21.88	17.97	12.80	14.86	13.06
Dec 2002	15.20	16.04	15.53	16.38	16.26	14.09	12.45	21.08	15.58	21.71	18.07	12.85	14.87	13.04
Jan 2003	15.22	16.06	15.58	16.39	16.32	14.07	12.53	21.15	15.68	21.75	18.07	12.91	14.92	13.09
Feb 2003	15.29	16.12	15.63	16.58	16.35	14.20	12.56	21.13	15.61	21.68	18.03	12.97	14.93	13.12
Mar 2003	15.28	16.18	15.64	16.60	16.35	14.26	12.57	21.11	15.63	21.64	17.99	12.97	14.96	13.20
Apr 2003	15.28	16.22	15.63	16.62	16.33	14.27	12.52	21.04	15.65	21.51	17.98	12.88	14.98	13.23
May 2003	15.33	16.25	15.69	16.63	16.40	14.27	12.61	21.21	15.72	21.65	18.01	12.95	14.98	13.22
Jun 2003	15.36	16.32	15.72	16.75	16.44	14.34	12.70	21.26	15.67	21.73	18.09	12.97	14.96	13.19
Jul 2003	15.40	16.35	15.76	16.71	16.47	14.32	12.76	21.28	15.72	21.81	18.17	12.99	15.01	13.23
Aug 2003	15.42	16.35	15.78	16.78	16.49	14.50	12.77	21.30	15.77	21.78	18.17	13.02	15.05	13.28
Sep 2003	15.42	16.35	15.83	16.74	16.56	14.49	12.82	21.40	15.80	21.83	18.22	13.05	15.07	13.38
Oct 2003	15.43	16.35	15.83	16.79	16.53	14.43	12.84	21.22	15.88	21.57	18.27	13.03	15.06	13.46
Nov 2003	15.47	16.48	15.90	16.82	16.59	14.56	12.91	21.27	15.95	21.61	18.32	13.11	15.07	13.54
Dec 2003	15.47	16.48	15.92	16.80	16.61	14.61	12.91	21.34	16.00	21.60	18.35	13.00	15.11	13.58
Jan 2004	15.51	16.50	15.95	16.87	16.62	14.60	12.92	21.28	16.07	21.63	18.38	12.94	15.16	13.67
Feb 2004	15.54	16.49	15.98	16.93	16.66	14.62	12.96	21.31	16.11	21.59	18.39	12.98	15.18	13.75
Mar 2004	15.56	16.50	16.01	16.97	16.69	14.72	12.98	21.34	16.11	21.59	18.43	13.02	15.24	13.77
Apr 2004	15.59	16.59	16.05	17.02	16.72	14.83	13.03	21.40	16.12	21.67	18.51	13.09	15.24	13.74
May 2004	15.64	16.59	16.07	17.20	16.74	14.88	13.05	21.32	16.16	21.52	18.55	13.09	15.24	13.79
Jun 2004	15.67	16.59	16.11	17.19	16.76	14.95	12.98	21.36	16.19	21.57	18.58	13.13	15.26	13.86
Jul 2004	15.70	16.65	16.12	17.22	16.75	14.96	13.00	21.29	16.26	21.58	18.59	13.13	15.28	13.87
Aug 2004	15.73	16.77	16.20	17.34	16.86	15.01	13.03	21.51	16.27	21.67	18.59	13.25	15.30	13.88
Sep 2004	15.78	16.86	16.29	17.42	16.98	15.09	13.16	21.65	16.48	21.84	18.77	13.30	15.42	13.95
Oct 2004	15.81	16.83	16.27	17.53	16.96	15.06	13.05	21.67	16.35	21.85	18.71	13.26	15.40	13.92
Nov 2004	15.84	16.84	16.31	17.67	17.01	15.10	13.08	21.72	16.45	21.95	18.67	13.29	15.44	13.95
Dec 2004	15.86	16.89	16.34	17.86	17.06	15.06	13.12	21.79	16.40	22.00	18.70	13.38	15.48	14.00
Jan 2005	15.90	16.99	16.38	18.00	17.11	15.09	13.11	21.86	16.37	22.09	18.75	13.40	15.51	14.04
Feb 2005	15.93	17.01	16.44	18.00	17.19	15.17	13.11	21.95	16.35	22.18	18.82	13.40	15.67	14.03
Mar 2005	15.97	17.03	16.44	18.00	17.18	15.12	13.18	21.89	16.40	22.09	18.86	13.42	15.62	14.01
Apr 2005	16.01	17.02	16.46	18.23	17.21	15.11	13.18	21.86	16.63	22.01	18.80	13.45	15.65	14.03
May 2005	16.04	16.97	16.53	18.50	17.28	15.07	13.22	21.93	16.58	22.12	18.90	13.47	15.71	14.06
Jun 2005	16.08	17.10	16.54	18.40	17.29	15.12	13.04	21.93	16.73	22.03	18.83	13.51	15.78	14.09
Jul 2005	16.15	17.11	16.57	18.50	17.34	15.26	13.18	21.96	16.81	22.03	18.85	13.47	15.85	14.15
Aug 2005	16.17	17.06	16.63	18.52	17.42	15.26	13.06	22.27	16.84	22.31	19.00	13.44	15.91	14.10
Sep 2005	16.19	17.04	16.59	18.60	17.36	15.28	13.09	22.06	16.72	22.24	18.94	13.47	15.91	14.04
Oct 2005	16.29	17.04	16.69	18.62	17.49	15.38	13.26	22.44	16.69	22.55	19.07	13.46	15.93	14.09
Nov 2005	16.30	16.99	16.68	18.62	17.49	15.44	13.22	22.37	16.53	22.55	19.26	13.47	16.01	14.13
Dec 2005	16.36	16.95	16.68	18.65	17.50	15.53	13.15	22.35	16.56	22.52	19.14	13.47	16.07	14.16
Jan 2006	16.42	17.02	16.70	18.67	17.52	15.49	13.12	22.31	16.58	22.47	19.32	13.54	16.09	14.06
Feb 2006	16.48	16.99	16.70	18.72	17.52	15.47	13.21	22.30	16.65	22.37	19.33	13.55	16.08	14.11
Mar 2006	16.54	16.99	16.72	18.63	17.54	15.45	13.19	22.38	16.70	22.42	19.33	13.57	16.08	14.27
Apr 2006	16.64	16.99	16.75	18.73	17.58	15.42	13.27	22.38	16.64	22.29	19.30	13.71	16.08	14.37
May 2006	16.65	17.08	16.77	18.76	17.62	15.44	13.32	22.45	16.57	22.36	19.21	13.73	16.13	14.40
Jun 2006	16.72	17.09	16.78	18.82	17.64	15.47	13.41	22.43	16.49	22.30	19.22	13.70	16.17	14.35
Jul 2006	16.78	17.14	16.78	18.92	17.66	15.50	13.43	22.37	16.44	22.04	19.09	13.79	16.21	14.45
Aug 2006	16.83	17.20	16.83	19.02	17.71	15.58	13.49	22.46	16.70	21.97	19.34	13.84	16.14	14.49
Sep 2006	16.87	17.29	16.83	19.10	17.73	15.60	13.56	22.35	16.46	21.80	19.52	13.89	16.20	14.46
Oct 2006	16.94	17.44	16.91	19.23	17.81	15.65	13.58	22.46	16.55	21.73	19.38	14.02	16.26	14.49
Nov 2006	16.98	17.55	16.92	19.25	17.85	15.62	13.59	22.42	16.50	21.70	19.77	14.11	16.28	14.43
Dec 2006	17.04	17.62	16.99	19.42	17.91	15.71	13.58	22.54	16.74	21.77	19.47	14.06	16.31	14.47
Jan 2007	17.09	17.59	17.01	19.48	17.93	15.78	13.67	22.52	16.81	21.63	19.42	14.13	16.32	14.51
Feb 2007	17.15	17.64	17.05	19.53	17.97	15.89	13.61	22.57	16.88	21.59	19.47	14.16	16.34	14.51
Mar 2007	17.22	17.70	17.10	19.60	18.03	15.97	13.64	22.70	16.96	21.80	19.51	14.33	16.36	14.52
Apr 2007	17.27	17.76	17.20	19.76	18.13	16.04	13.63	23.00	16.73	22.15	19.64	14.37	16.46	14.46
May 2007	17.34	17.70	17.23	19.85	18.17	16.10	13.61	22.94	16.95	22.06	19.71	14.35	16.54	14.45
Jun 2007	17.42	17.67	17.29	19.99	18.24	16.10	13.67	23.08	17.03	22.12	19.76	14.40	16.50	14.83
Jul 2007	17.46	17.84	17.29	20.02	18.22	16.02	13.63	23.06	16.94	22.02	19.74	14.36	16.54	14.70
Aug 2007	17.50	17.76	17.35	20.03	18.30	15.92	13.67	23.35	16.90	22.35	19.70	14.28	16.58	14.73
Sep 2007	17.56	17.78	17.37	20.21	18.32	16.04	13.68	23.29	16.92	22.20	19.68	14.32	16.60	14.76
Oct 2007	17.58	17.68	17.36	20.27	18.32	15.78	13.78	23.20	16.95	21.87	19.78	14.36	16.68	14.75
Nov 2007	17.63	17.73	17.44	20.34	18.38	15.75	13.77	23.32	17.17	21.99	19.72	14.35	16.69	14.82
Dec 2007	17.69	17.80	17.44	20.33	18.37	15.70	13.84	23.32	17.03	22.00	19.73	14.44	16.69	14.99
Jan 2008	17.74	17.72	17.50	20.39	18.43	15.70	13.87	23.41	17.08	22.18	20.04	14.38	16.76	14.92
Feb 2008	17.80	17.83	17.57	20.56	18.53	15.67	13.93	23.56	16.95	22.31	20.14	14.44	16.81	14.96
Mar 2008	17.88	17.87	17.63	20.81	18.57	15.65	14.01	23.55	16.86	22.22	20.38	14.44	16.86	15.02
Apr 2008	17.92	17.96	17.63	20.79	18.60	15.79	14.04	23.67	16.99	22.29	20.13	14.45	16.86	14.98
May 2008	17.98	18.07	17.69	20.97	18.66	15.74	14.15	23.68	16.89	22.23	20.32	14.50	16.91	15.06
Jun 2008	18.04	17.95	17.75	21.09	18.73	15.74	14.18	23.83	16.89	22.31	20.32	14.54	16.96	15.18
Jul 2008	18.10	17.98	17.80	21.09	18.78	15.79	14.22	24.06	16.85	22.36	20.31	14.53	16.98	15.25
Aug 2008	18.18	18.03	17.80	21.19	18.76	15.85	14.26	23.93	16.86	21.98	20.25	14.58	17.08	15.32
Sep 2008	18.20	18.04	17.83	21.29	18.77	15.87	14.37	23.92	16.90	22.29	20.19	14.53	17.13	15.32
Oct 2008	18.25	18.10	17.90	21.39	18.83	15.87	14.41	24.13	16.93	22.15	20.02	14.64	17.18	15.38
Nov 2008	18.32	18.15	17.95	21.42	18.94	15.77	14.47	24.39	16.81	22.28	20.05	14.76	17.21	15.46
Dec 2008	18.38	17.96	18.00	21.49	18.98	15.86	14.58	24.50	16.83	22.14	20.07	14.84	17.23	15.58
Jan 2009	18.40	18.08	18.01	21.46	18.99	15.75	14.67	24.75	16.90	21.96	19.91	14.87	17.23	15.73
Feb 2009	18.45	18.19	18.09	21.45	19.11	15.89	14.81	24.82	17.12	22.08	19.89	14.89	17.30	15.89
Mar 2009	18.50	18.26	18.13	21.78	19.21	15.94	14.75	24.90	17.27	21.96	19.87	15.01	17.30	15.97
Apr 2009	18.52	18.24	18.16	21.72	19.25	16.03	14.75	24.89	17.19	21.79	20.01	14.96	17.44	16.09
May 2009	18.53	18.39	18.13	21.65	19.26	16.17	14.89	24.97	17.20	21.51	19.93	14.98	17.42	16.25
Jun 2009	18.56	18.34	18.17	21.75	19.29	16.26	14.87	25.04	17.28	21.59	19.99	15.09	17.47	16.13
Jul 2009	18.59	18.40	18.29	21.90	19.49	16.37	15.00	25.39	17.29	22.41	20.14	15.21	17.50	16.20
Aug 2009	18.67	18.44	18.32	22.02	19.48	16.53	15.08	25.07	17.33	21.74	20.24	15.16	17.55	16.18
Sep 2009	18.70	18.56	18.42	22.04	19.56	16.54	15.06	25.09	17.38	21.78	20.39	15.29	17.62	16.21
Oct 2009	18.74	18.55	18.38	22.11	19.55	16.55	15.05	25.04	17.34	21.88	20.44	15.10	17.60	16.26
Nov 2009	18.81	18.63	18.42	22.45	19.59	16.66	15.06	24.93	17.44	21.81	20.37	14.96	17.66	16.31
Dec 2009	18.84	18.63	18.42	22.40	19.60	16.62	15.07	24.98	17.33	21.87	20.23	14.96	17.74	16.24
Jan 2010	18.89	18.75	18.43	22.39	19.63	16.69	14.92	25.03	17.39	21.97	20.23	14.98	17.77	16.28
Feb 2010	18.92	18.72	18.47	22.88	19.71	16.63	14.80	25.02	17.30	21.80	20.22	15.01	17.82	16.33
Mar 2010	18.92	18.56	18.47	22.47	19.67	16.70	14.86	25.10	17.41	21.76	20.34	14.91	17.91	16.33
Apr 2010	18.96	18.82	18.51	22.51	19.69	16.63	14.89	25.07	17.40	21.86	20.16	14.98	17.96	16.37
May 2010	19.01	18.91	18.58	22.81	19.76	16.67	14.89	25.09	17.45	22.03	20.23	15.05	17.91	16.47
Jun 2010	19.03	19.12	18.57	22.65	19.75	16.71	14.85	25.04	17.45	22.04	20.07	15.02	17.93	16.50
Jul 2010	19.04	19.08	18.63	22.81	19.82	16.81	14.81	25.30	17.43	22.32	20.07	14.94	17.94	16.51
Aug 2010	19.11	19.09	18.65	22.87	19.81	16.77	14.81	25.17	17.40	21.69	19.95	15.14	17.95	16.60
Sep 2010	19.11	19.06	18.71	22.88	19.90	16.94	14.89	25.43	17.51	22.27	20.14	15.27	17.97	16.72
Oct 2010	19.20	19.11	18.73	22.90	19.93	17.17	14.72	25.46	17.46	22.21	20.21	15.11	18.03	16.81
Nov 2010	19.21	19.18	18.76	23.07	19.96	17.17	14.89	25.48	17.57	22.13	20.13	15.10	17.99	16.86
Dec 2010	19.22	19.30	18.80	23.21	20.04	17.47	14.92	25.52	17.79	22.13	20.18	15.10	18.08	16.91
Jan 2011	19.32	19.40	18.89	23.40	20.12	17.74	14.92	25.48	17.87	22.06	20.07	15.15	18.13	17.10
Feb 2011	19.31	19.37	18.91	23.46	20.16	18.08	14.94	25.50	18.02	22.08	20.24	15.14	18.09	16.89
Mar 2011	19.31	19.38	18.90	23.27	20.12	17.94	14.91	25.48	17.96	22.29	20.13	15.26	18.08	16.87
Apr 2011	19.37	19.45	18.91	23.34	20.13	17.93	14.92	25.52	17.99	22.19	20.12	15.39	18.08	16.86
May 2011	19.41	19.44	18.92	23.37	20.11	17.90	14.82	25.54	17.98	22.26	20.09	15.19	18.15	16.76
Jun 2011	19.42	19.44	18.90	23.21	20.06	17.89	14.79	25.39	18.11	22.05	20.09	15.14	18.10	16.72
Jul 2011	19.47	19.42	18.93	23.21	20.09	17.89	14.88	25.38	18.26	21.92	19.97	15.24	18.15	16.71
Aug 2011	19.48	19.57	18.90	23.03	20.03	17.92	14.79	25.15	18.26	21.56	19.86	15.18	18.12	16.78
Sep 2011	19.49	19.72	18.91	23.28	20.06	17.99	14.69	25.15	18.26	21.65	19.56	15.19	18.14	16.74
Oct 2011	19.56	19.78	18.98	23.52	20.17	18.04	14.74	25.22	18.49	21.77	19.72	15.33	18.16	16.77
Nov 2011	19.56	19.82	18.96	23.27	20.13	18.18	14.61	25.12	18.35	21.63	19.66	15.39	18.18	16.79
Dec 2011	19.56	19.82	19.00	23.31	20.13	18.01	14.68	25.06	18.12	21.60	19.90	15.41	18.17	16.87
Jan 2012	19.58	19.86	19.02	23.45	20.15	17.91	14.76	25.01	18.10	21.78	20.31	15.39	18.16	16.95
Feb 2012	19.59	19.87	19.00	23.45	20.14	17.98	14.82	24.88	18.08	21.59	20.28	15.47	18.16	17.01
Mar 2012	19.65	19.96	19.02	23.41	20.12	17.92	14.90	24.78	18.07	21.43	20.19	15.36	18.18	16.92
Apr 2012	19.69	20.06	19.09	23.53	20.19	17.93	14.84	24.71	18.21	21.49	20.46	15.45	18.22	17.06
May 2012	19.68	20.06	19.04	23.25	20.13	17.92	14.81	24.58	18.23	21.20	20.36	15.49	18.25	17.00
Jun 2012	19.72	20.18	19.08	23.32	20.19	18.00	14.92	24.66	18.12	21.28	20.40	15.44	18.30	17.05
Jul 2012	19.75	20.25	19.11	23.39	20.18	18.00	15.02	24.30	18.07	21.19	20.81	15.42	18.27	17.21
Aug 2012	19.74	20.32	19.05	23.37	20.16	18.09	15.12	24.30	18.16	21.07	20.68	15.37	18.24	17.18
Sep 2012	19.79	20.38	19.06	23.38	20.17	17.97	15.16	24.25	18.14	20.90	20.92	15.44	18.27	17.11
Oct 2012	19.79	20.34	19.09	23.16	20.16	18.10	15.15	24.30	18.20	20.97	20.96	15.46	18.31	17.08
Nov 2012	19.84	20.37	19.13	23.10	20.21	18.28	15.14	24.37	18.15	21.21	21.31	15.48	18.35	17.06
Dec 2012	19.89	20.28	19.13	23.20	20.24	18.14	15.23	24.35	18.23	21.02	21.50	15.66	18.40	17.08
Jan 2013	19.94	20.39	19.16	23.30	20.21	18.17	15.25	24.33	18.19	20.97	21.49	15.51	18.34	16.75
Feb 2013	19.99	20.50	19.21	23.17	20.20	18.10	15.33	24.32	18.23	20.91	21.37	15.40	18.35	16.91
Mar 2013	20.02	20.51	19.21	23.37	20.24	18.02	15.35	24.36	18.22	20.87	21.55	15.43	18.32	17.04
Apr 2013	20.05	20.47	19.23	23.31	20.25	18.14	15.60	24.42	18.18	20.79	21.54	15.41	18.29	17.02
May 2013	20.06	20.54	19.24	23.34	20.27	18.09	15.53	24.40	18.24	20.83	21.80	15.34	18.26	17.07
Jun 2013	20.12	20.62	19.27	23.40	20.34	18.21	15.54	24.45	18.37	20.79	21.98	15.42	18.32	17.05
Jul 2013	20.14	20.67	19.26	23.46	20.34	18.01	15.48	24.58	18.38	21.00	21.99	15.51	18.26	17.02
Aug 2013	20.18	20.44	19.31	23.46	20.37	17.95	15.46	24.63	18.47	21.14	22.10	15.69	18.39	17.08
Sep 2013	20.23	20.51	19.33	23.44	20.42	17.97	15.48	24.67	18.54	21.23	22.18	15.70	18.44	17.16
Oct 2013	20.25	20.64	19.35	23.52	20.44	17.83	15.50	24.69	18.60	21.26	22.25	15.70	18.40	17.18
Nov 2013	20.31	20.69	19.40	23.61	20.48	17.68	15.58	24.71	18.76	21.24	22.27	15.82	18.42	17.18
Dec 2013	20.33	20.80	19.46	23.78	20.56	18.04	15.55	24.79	18.65	21.34	22.48	15.88	18.47	17.09
Jan 2014	20.40	20.69	19.46	23.95	20.56	17.98	15.61	24.79	18.74	21.18	22.52	15.66	18.56	17.20
Feb 2014	20.50	20.88	19.49	23.66	20.58	18.09	15.54	24.77	18.80	21.26	22.26	15.72	18.50	17.34
Mar 2014	20.48	20.97	19.53	23.52	20.65	18.12	15.59	25.02	18.86	21.57	22.15	15.68	18.62	17.46
Apr 2014	20.51	20.94	19.48	23.41	20.58	18.02	15.48	24.81	18.92	21.31	22.38	15.68	18.63	17.29
May 2014	20.55	20.96	19.51	23.46	20.65	18.24	15.49	24.96	19.05	21.40	22.35	15.77	18.69	17.29
Jun 2014	20.57	20.96	19.54	23.37	20.64	18.30	15.47	24.99	19.11	21.44	22.45	15.75	18.61	17.34
Jul 2014	20.61	21.01	19.59	23.39	20.70	18.40	15.40	25.02	19.31	21.50	22.48	15.78	18.70	17.30
Aug 2014	20.67	21.07	19.60	23.23	20.68	18.34	15.56	24.95	19.23	21.36	22.53	15.55	18.75	17.31
Sep 2014	20.68	21.11	19.59	23.21	20.68	18.32	15.69	24.98	19.30	21.29	22.36	15.43	18.76	17.48
Oct 2014	20.71	21.12	19.65	23.35	20.74	18.51	15.64	25.06	19.44	21.43	22.43	15.60	18.77	17.27
Nov 2014	20.76	21.14	19.65	23.01	20.73	18.48	15.67	25.14	19.40	21.51	22.45	15.64	18.76	17.30
Dec 2014	20.72	21.10	19.63	23.00	20.71	18.52	15.73	25.02	19.50	21.32	22.37	15.63	18.74	17.31
Jan 2015	20.81	21.18	19.65	22.87	20.72	18.48	15.74	24.99	19.54	21.46	22.53	15.84	18.77	17.35
Feb 2015	20.84	21.25	19.73	23.01	20.82	18.61	15.83	25.14	19.64	21.45	22.69	15.96	18.77	17.37
Mar 2015	20.88	21.20	19.77	23.06	20.87	18.75	15.89	25.14	19.71	21.50	22.65	15.99	18.83	17.44
Apr 2015	20.92	21.18	19.80	23.27	20.89	18.90	15.97	25.13	19.59	21.57	22.41	16.06	18.79	17.46
May 2015	20.99	21.30	19.86	23.48	20.97	18.83	16.03	25.05	19.88	21.63	22.60	16.06	18.91	17.62
Jun 2015	21.01	21.24	19.89	23.46	20.98	18.85	16.13	25.12	19.83	21.65	22.28	16.09	19.02	17.63
Jul 2015	21.03	21.31	19.95	23.37	21.01	18.91	16.18	25.06	20.02	21.53	22.40	16.14	19.11	17.72
Aug 2015	21.08	21.41	19.99	23.32	21.05	19.01	16.26	25.10	20.03	21.52	22.46	16.26	19.17	17.68
Sep 2015	21.11	21.41	20.07	23.37	21.07	18.98	16.34	25.11	20.10	21.62	22.58	16.20	19.08	17.86
Oct 2015	21.20	21.47	20.06	23.45	21.09	18.92	16.44	25.03	20.08	21.43	22.45	16.19	19.23	18.06
Nov 2015	21.20	21.56	20.06	23.51	21.10	19.00	16.49	24.93	20.07	21.28	22.39	16.07	19.28	18.13
Dec 2015	21.24	21.65	20.12	23.52	21.18	19.06	16.51	25.11	20.19	21.48	22.45	16.19	19.30	18.21
Jan 2016	21.31	21.68	20.16	23.47	21.23	19.10	16.56	25.13	20.11	21.50	22.51	16.29	19.40	18.35
Feb 2016	21.36	21.61	20.20	23.76	21.28	19.08	16.63	25.09	20.18	21.57	22.68	16.42	19.50	18.27
Mar 2016	21.40	21.71	20.27	23.90	21.36	19.16	16.68	25.12	20.23	21.58	22.97	16.56	19.49	18.33
Apr 2016	21.46	21.84	20.39	24.21	21.48	19.22	16.82	25.08	20.56	21.41	23.11	16.63	19.59	18.46
May 2016	21.48	21.85	20.41	23.98	21.48	19.43	16.78	25.24	20.28	21.61	23.01	16.72	19.60	18.39
Jun 2016	21.53	21.91	20.48	24.79	21.55	19.27	16.84	25.13	20.33	21.62	23.22	16.87	19.58	18.36
Jul 2016	21.58	21.88	20.49	23.99	21.53	19.28	16.89	25.17	20.37	22.04	23.16	16.85	19.77	18.35
Aug 2016	21.61	21.90	20.56	24.45	21.59	19.29	16.89	25.22	20.36	21.89	23.27	16.95	19.70	18.45
Sep 2016	21.63	21.84	20.54	24.62	21.56	19.41	17.04	24.83	20.26	21.59	23.56	17.03	19.74	18.64
Oct 2016	21.71	21.92	20.58	24.65	21.60	19.48	16.90	24.99	20.22	21.62	23.26	17.18	19.81	18.54
Nov 2016	21.73	21.83	20.61	24.70	21.61	19.42	16.85	25.03	20.25	21.56	23.37	17.18	19.88	18.54
Dec 2016	21.77	21.88	20.62	24.63	21.62	19.46	16.97	24.94	20.33	21.47	23.22	17.31	19.92	18.67
Jan 2017	21.82	21.94	20.61	24.56	21.62	19.55	17.13	24.95	20.27	21.41	23.05	17.35	19.91	18.74
Feb 2017	21.86	22.00	20.64	24.24	21.62	19.54	17.17	25.02	20.11	21.40	23.13	17.34	19.99	18.70
Mar 2017	21.89	22.13	20.69	24.51	21.67	19.51	17.24	24.98	20.19	21.43	23.08	17.33	20.07	18.78
Apr 2017	21.94	22.23	20.76	24.60	21.74	19.54	17.34	25.08	20.12	21.50	23.03	17.48	20.08	18.82
May 2017	21.98	22.30	20.81	24.63	21.80	19.53	17.50	25.17	20.16	21.73	23.02	17.39	20.12	18.91
Jun 2017	22.03	22.38	20.85	24.55	21.83	19.53	17.42	25.25	20.15	21.54	22.98	17.44	20.11	19.14
Jul 2017	22.08	22.53	20.92	24.69	21.92	19.71	17.47	25.40	20.20	21.63	23.19	17.55	20.14	19.18
Aug 2017	22.11	22.53	20.95	24.56	21.96	19.73	17.54	25.47	20.28	21.76	23.09	17.61	20.21	19.20
Sep 2017	22.19	22.65	21.00	24.47	22.00	19.87	17.52	25.47	20.62	21.79	23.06	17.68	20.25	19.20
Oct 2017	22.18	22.65	21.07	24.58	22.07	19.96	17.68	25.68	20.57	21.97	23.13	17.73	20.24	19.10
Nov 2017	22.24	22.71	21.12	24.67	22.12	20.07	17.71	25.63	20.72	21.93	22.95	17.70	20.30	19.27
Dec 2017	22.31	22.81	21.23	24.70	22.24	20.04	17.74	25.91	20.72	22.34	23.27	17.69	20.38	19.37
Jan 2018	22.36	22.72	21.29	24.91	22.28	20.17	17.73	26.09	20.69	22.58	23.08	17.71	20.38	19.26
Feb 2018	22.40	22.84	21.34	24.96	22.29	20.23	17.82	25.91	20.98	22.45	23.12	17.74	20.39	19.28
Mar 2018	22.49	22.89	21.39	25.04	22.33	20.31	17.75	26.05	21.13	22.52	23.06	17.78	20.33	19.24
Apr 2018	22.55	22.97	21.46	24.94	22.44	20.55	17.75	26.13	21.40	22.62	23.19	17.78	20.58	19.28
May 2018	22.62	22.99	21.43	24.94	22.39	20.56	17.72	26.12	21.31	22.58	23.32	17.83	20.46	19.15
Jun 2018	22.67	22.98	21.48	25.03	22.47	20.70	17.83	26.24	21.42	22.63	23.27	17.87	20.53	19.13
Jul 2018	22.71	22.95	21.46	25.01	22.47	20.68	17.96	26.24	21.39	22.66	23.14	17.88	20.53	19.18
Aug 2018	22.80	23.11	21.55	25.28	22.55	20.75	17.88	26.33	21.45	22.79	23.22	17.94	20.53	19.14
Sep 2018	22.86	23.15	21.62	25.23	22.61	20.87	17.91	26.53	21.34	22.86	23.35	17.97	20.61	19.06
Oct 2018	22.90	23.24	21.69	25.23	22.63	20.58	17.96	26.50	21.62	22.90	23.41	17.91	20.64	19.04
Nov 2018	22.99	23.34	21.78	25.24	22.72	20.57	17.99	26.60	21.98	23.04	23.45	17.85	20.75	19.13
Dec 2018	23.09	23.39	21.85	25.22	22.81	20.89	18.16	26.71	22.04	23.07	23.52	17.97	20.83	19.04

Hourly earnings in most nondurable goods industries in manufacturing also grew more slowly than those of the private sector. Printing and related activities experienced the weakest earnings growth, while two industries—apparel and petroleum and coal products—had above-average growth. (See figure 4.)

⁠

Figure 4. Average hourly earnings of production workers, nondurable goods, seasonally adjusted, 1990–2018
Month	Nondurable goods	Printing and related support activities	Food manufacturing	Petroleum and coal products	Textile mills	Chemicals	Textile product mills	Plastics and rubber products	Apparel	Miscellaneous nondurable goods manufacturing	Paper and paper products
Jan 1990	$9.68	$10.99	$8.91	$16.61	$8.03	$12.68	$7.24	$9.59	$6.08	$10.11	$11.88
Feb 1990	9.71	11.02	8.95	16.42	8.06	12.66	7.29	9.62	6.12	10.14	11.90
Mar 1990	9.77	11.04	9.00	16.59	8.11	12.75	7.33	9.66	6.17	10.14	11.91
Apr 1990	9.79	11.03	8.98	16.87	8.08	12.79	7.32	9.66	6.19	10.25	11.96
May 1990	9.82	11.09	9.01	16.87	8.15	12.77	7.34	9.70	6.21	10.20	12.01
Jun 1990	9.85	11.06	9.05	17.10	8.18	12.84	7.35	9.72	6.20	10.20	12.01
Jul 1990	9.89	11.12	9.10	17.14	8.19	12.87	7.36	9.78	6.21	10.22	12.03
Aug 1990	9.89	11.12	9.07	17.10	8.21	12.91	7.37	9.80	6.23	10.22	12.08
Sep 1990	9.93	11.17	9.05	17.20	8.24	12.92	7.42	9.84	6.26	10.37	12.14
Oct 1990	9.97	11.18	9.10	17.25	8.26	13.00	7.45	9.89	6.30	10.41	12.19
Nov 1990	10.02	11.19	9.13	17.35	8.29	12.99	7.46	9.92	6.32	10.54	12.27
Dec 1990	10.01	11.26	9.15	17.35	8.30	12.97	7.50	9.91	6.28	10.55	12.23
Jan 1991	10.04	11.22	9.19	17.45	8.33	13.05	7.52	9.95	6.33	10.63	12.28
Feb 1991	10.06	11.23	9.20	17.61	8.34	13.08	7.49	9.97	6.33	10.60	12.31
Mar 1991	10.09	11.21	9.23	17.64	8.37	13.14	7.52	10.00	6.33	10.63	12.37
Apr 1991	10.11	11.37	9.25	17.64	8.39	13.13	7.56	10.02	6.37	10.66	12.28
May 1991	10.15	11.29	9.32	17.83	8.42	13.25	7.56	10.06	6.39	10.64	12.39
Jun 1991	10.18	11.32	9.33	17.88	8.46	13.31	7.60	10.07	6.44	10.73	12.45
Jul 1991	10.18	11.33	9.31	17.90	8.46	13.35	7.60	10.06	6.46	10.72	12.44
Aug 1991	10.20	11.36	9.34	17.98	8.54	13.35	7.64	10.11	6.45	10.73	12.48
Sep 1991	10.22	11.35	9.35	18.10	8.57	13.41	7.67	10.11	6.49	10.71	12.49
Oct 1991	10.25	11.39	9.40	18.11	8.61	13.45	7.66	10.13	6.49	10.83	12.53
Nov 1991	10.28	11.40	9.42	18.26	8.65	13.47	7.70	10.15	6.51	10.82	12.58
Dec 1991	10.31	11.43	9.46	18.42	8.66	13.51	7.70	10.20	6.53	10.85	12.62
Jan 1992	10.32	11.44	9.46	18.36	8.67	13.54	7.71	10.23	6.53	10.90	12.64
Feb 1992	10.35	11.44	9.50	18.53	8.71	13.54	7.74	10.24	6.56	10.94	12.64
Mar 1992	10.38	11.48	9.52	18.62	8.75	13.59	7.77	10.26	6.56	11.01	12.70
Apr 1992	10.42	11.49	9.55	18.71	8.76	13.63	7.80	10.31	6.60	11.03	12.70
May 1992	10.44	11.52	9.58	18.76	8.81	13.65	7.85	10.31	6.60	11.03	12.75
Jun 1992	10.44	11.53	9.58	18.76	8.82	13.66	7.87	10.34	6.61	11.05	12.76
Jul 1992	10.46	11.54	9.58	18.86	8.83	13.70	7.90	10.36	6.62	11.09	12.80
Aug 1992	10.50	11.56	9.60	19.00	8.85	13.77	7.90	10.39	6.63	11.28	12.82
Sep 1992	10.54	11.57	9.66	18.98	8.87	13.85	7.86	10.42	6.63	11.19	12.96
Oct 1992	10.53	11.58	9.66	19.11	8.89	13.83	7.89	10.44	6.63	11.10	12.88
Nov 1992	10.54	11.60	9.68	19.18	8.92	13.86	7.91	10.45	6.64	11.08	12.89
Dec 1992	10.55	11.59	9.67	19.05	8.96	13.87	7.95	10.46	6.65	11.20	12.92
Jan 1993	10.57	11.61	9.70	19.24	9.00	13.90	7.96	10.47	6.70	11.07	12.93
Feb 1993	10.60	11.63	9.72	18.97	9.07	13.92	8.02	10.50	6.71	11.08	12.96
Mar 1993	10.61	11.62	9.74	19.24	9.03	13.90	8.01	10.45	6.71	11.10	12.98
Apr 1993	10.66	11.67	9.81	19.36	9.10	13.90	8.03	10.57	6.71	11.16	13.09
May 1993	10.67	11.62	9.80	19.51	9.10	13.92	8.07	10.53	6.73	11.27	13.07
Jun 1993	10.68	11.64	9.82	19.54	9.10	13.93	8.06	10.54	6.73	11.27	13.13
Jul 1993	10.72	11.63	9.86	19.54	9.13	13.95	8.11	10.56	6.74	11.42	13.19
Aug 1993	10.74	11.69	9.87	19.56	9.15	13.98	8.13	10.55	6.78	11.42	13.18
Sep 1993	10.78	11.71	9.88	19.56	9.16	14.06	8.15	10.64	6.78	11.49	13.31
Oct 1993	10.78	11.72	9.86	19.53	9.20	14.02	8.20	10.60	6.80	11.43	13.27
Nov 1993	10.79	11.74	9.87	19.50	9.19	14.06	8.20	10.63	6.82	11.54	13.26
Dec 1993	10.82	11.77	9.91	19.65	9.21	14.09	8.18	10.61	6.83	11.59	13.31
Jan 1994	10.84	11.79	9.91	19.69	9.22	14.12	8.24	10.63	6.79	11.66	13.30
Feb 1994	10.91	11.84	9.92	19.77	9.23	14.20	8.21	10.68	6.86	11.79	13.41
Mar 1994	10.89	11.84	9.95	19.90	9.25	14.20	8.24	10.64	6.89	11.84	13.40
Apr 1994	10.89	11.87	9.93	19.70	9.28	14.20	8.23	10.64	6.90	11.85	13.38
May 1994	10.92	11.87	9.95	19.69	9.30	14.30	8.22	10.65	6.92	11.95	13.44
Jun 1994	10.94	11.89	9.97	19.90	9.34	14.34	8.25	10.68	6.93	11.95	13.43
Jul 1994	10.97	11.91	10.02	19.95	9.38	14.35	8.25	10.68	6.98	11.97	13.44
Aug 1994	10.98	11.91	10.01	19.96	9.39	14.36	8.29	10.67	6.99	12.00	13.57
Sep 1994	11.01	11.93	10.01	20.28	9.42	14.42	8.35	10.62	7.01	12.04	13.59
Oct 1994	11.04	11.94	10.08	20.23	9.43	14.47	8.38	10.66	7.04	12.17	13.59
Nov 1994	11.06	11.95	10.11	20.16	9.47	14.46	8.39	10.68	7.06	12.17	13.62
Dec 1994	11.07	11.93	10.09	20.29	9.49	14.51	8.38	10.70	7.08	12.24	13.64
Jan 1995	11.11	11.96	10.16	20.04	9.54	14.56	8.51	10.72	7.12	12.25	13.73
Feb 1995	11.15	11.98	10.19	20.16	9.55	14.63	8.47	10.70	7.11	12.31	13.80
Mar 1995	11.17	12.02	10.20	19.87	9.55	14.68	8.48	10.74	7.13	12.30	13.79
Apr 1995	11.24	11.99	10.20	20.26	9.57	14.85	8.52	10.71	7.21	12.50	13.92
May 1995	11.23	12.04	10.23	20.15	9.58	14.75	8.53	10.80	7.18	12.36	13.87
Jun 1995	11.27	12.08	10.24	20.22	9.61	14.81	8.55	10.85	7.20	12.52	13.88
Jul 1995	11.33	12.11	10.24	20.31	9.65	14.91	8.63	10.92	7.23	12.57	14.02
Aug 1995	11.36	12.12	10.30	20.34	9.69	14.89	8.67	10.93	7.29	12.54	13.98
Sep 1995	11.37	12.14	10.31	20.29	9.70	14.94	8.66	10.94	7.27	12.51	13.97
Oct 1995	11.42	12.14	10.33	20.58	9.73	15.01	8.69	10.99	7.29	12.70	14.01
Nov 1995	11.44	12.16	10.34	20.28	9.74	15.08	8.73	10.98	7.31	12.74	14.07
Dec 1995	11.49	12.19	10.37	20.24	9.73	15.19	8.78	11.03	7.33	12.74	14.15
Jan 1996	11.59	12.24	10.36	20.26	9.73	15.28	8.77	11.02	7.32	13.02	14.31
Feb 1996	11.52	12.24	10.38	20.10	9.76	15.20	8.82	11.06	7.36	12.88	14.20
Mar 1996	11.55	12.28	10.41	19.65	9.78	15.27	8.84	11.08	7.39	12.99	14.23
Apr 1996	11.61	12.35	10.46	19.97	9.86	15.29	8.89	11.12	7.41	13.01	14.28
May 1996	11.62	12.39	10.46	19.99	9.84	15.30	8.92	11.14	7.41	12.99	14.30
Jun 1996	11.66	12.39	10.50	20.00	9.89	15.36	8.95	11.12	7.45	13.10	14.39
Jul 1996	11.67	12.41	10.53	20.05	9.88	15.36	8.97	11.15	7.44	13.05	14.38
Aug 1996	11.71	12.45	10.54	20.13	9.90	15.45	8.93	11.18	7.44	13.21	14.41
Sep 1996	11.72	12.47	10.55	20.27	9.93	15.45	9.01	11.21	7.45	13.21	14.37
Oct 1996	11.74	12.52	10.57	20.26	9.93	15.43	9.04	11.25	7.52	13.08	14.43
Nov 1996	11.81	12.55	10.62	20.47	9.97	15.48	9.10	11.28	7.56	13.40	14.54
Dec 1996	11.87	12.59	10.64	21.12	10.07	15.54	9.18	11.38	7.61	13.39	14.57
Jan 1997	11.89	12.57	10.68	20.99	10.09	15.59	9.13	11.37	7.64	13.40	14.59
Feb 1997	11.91	12.65	10.65	20.99	10.11	15.71	9.20	11.37	7.66	13.40	14.55
Mar 1997	11.95	12.73	10.70	21.04	10.15	15.66	9.21	11.41	7.69	13.41	14.70
Apr 1997	11.94	12.75	10.72	20.63	10.16	15.56	9.23	11.43	7.68	13.40	14.65
May 1997	11.98	12.71	10.73	21.06	10.18	15.70	9.25	11.42	7.72	13.43	14.68
Jun 1997	12.00	12.71	10.70	21.11	10.19	15.76	9.30	11.47	7.74	13.51	14.71
Jul 1997	12.03	12.77	10.77	21.09	10.22	15.78	9.31	11.45	7.72	13.51	14.74
Aug 1997	12.09	12.80	10.85	21.16	10.21	15.83	9.33	11.51	7.78	13.61	14.82
Sep 1997	12.11	12.86	10.83	21.19	10.26	15.83	9.35	11.53	7.84	13.63	14.82
Oct 1997	12.17	12.89	10.85	21.25	10.31	15.92	9.39	11.61	7.86	13.65	14.91
Nov 1997	12.20	12.97	10.85	21.32	10.34	16.01	9.41	11.60	7.88	13.68	14.93
Dec 1997	12.21	12.98	10.89	21.37	10.39	16.02	9.43	11.60	7.90	13.76	14.91
Jan 1998	12.26	13.03	10.92	21.46	10.39	16.08	9.47	11.61	7.94	13.77	14.94
Feb 1998	12.30	13.09	10.95	21.47	10.45	16.16	9.48	11.67	7.93	13.76	15.01
Mar 1998	12.36	13.10	11.01	21.70	10.51	16.21	9.53	11.69	7.96	13.80	15.07
Apr 1998	12.38	13.10	10.97	21.74	10.51	16.27	9.58	11.72	8.02	13.86	15.14
May 1998	12.43	13.14	11.05	21.83	10.55	16.29	9.65	11.75	8.04	13.94	15.22
Jun 1998	12.43	13.18	11.06	21.83	10.56	16.24	9.59	11.77	8.05	13.82	15.16
Jul 1998	12.48	13.20	11.09	21.86	10.59	16.30	9.57	11.82	8.10	13.89	15.29
Aug 1998	12.51	13.24	11.12	21.93	10.62	16.29	9.59	11.82	8.12	13.88	15.29
Sep 1998	12.58	13.31	11.28	21.68	10.66	16.29	9.58	11.89	8.13	13.90	15.45
Oct 1998	12.57	13.33	11.20	21.91	10.68	16.26	9.69	11.88	8.15	14.01	15.29
Nov 1998	12.58	13.31	11.21	21.74	10.69	16.23	9.78	11.92	8.14	14.09	15.30
Dec 1998	12.59	13.36	11.21	21.96	10.71	16.18	9.77	11.95	8.14	14.01	15.36
Jan 1999	12.64	13.45	11.24	21.95	10.73	16.17	9.83	12.09	8.17	14.07	15.44
Feb 1999	12.66	13.43	11.27	21.98	10.75	16.15	9.80	12.08	8.22	14.19	15.45
Mar 1999	12.70	13.47	11.28	22.03	10.77	16.17	9.85	12.13	8.23	14.21	15.54
Apr 1999	12.74	13.52	11.36	22.32	10.82	16.22	9.96	12.13	8.25	14.23	15.47
May 1999	12.81	13.59	11.41	22.23	10.85	16.31	10.05	12.23	8.29	14.35	15.50
Jun 1999	12.85	13.66	11.44	22.25	10.90	16.27	10.10	12.26	8.35	14.35	15.56
Jul 1999	12.88	13.76	11.39	22.28	10.93	16.32	10.07	12.28	8.38	14.55	15.60
Aug 1999	12.91	13.79	11.44	22.30	10.95	16.42	10.07	12.26	8.42	14.54	15.61
Sep 1999	13.00	13.79	11.47	22.38	11.01	16.68	10.17	12.36	8.46	14.69	15.74
Oct 1999	12.99	13.81	11.48	22.36	11.01	16.66	10.19	12.36	8.49	14.77	15.72
Nov 1999	13.03	13.86	11.50	22.39	11.03	16.67	10.20	12.43	8.52	14.84	15.70
Dec 1999	13.07	13.91	11.55	22.32	11.06	16.71	10.25	12.42	8.58	15.01	15.75
Jan 2000	13.09	13.91	11.56	22.32	11.06	16.86	10.27	12.38	8.57	15.09	15.74
Feb 2000	13.13	13.87	11.63	22.74	11.12	16.91	10.26	12.48	8.59	14.98	15.75
Mar 2000	13.17	13.97	11.65	22.81	11.12	16.89	10.27	12.51	8.59	15.17	15.75
Apr 2000	13.21	13.99	11.68	22.71	11.20	16.93	10.26	12.55	8.61	15.28	15.78
May 2000	13.24	14.05	11.69	22.70	11.17	17.00	10.25	12.61	8.60	15.19	15.84
Jun 2000	13.30	14.09	11.76	22.84	11.23	17.12	10.29	12.66	8.59	15.31	15.87
Jul 2000	13.32	14.09	11.77	22.88	11.23	17.24	10.32	12.71	8.60	15.27	15.88
Aug 2000	13.37	14.11	11.81	22.74	11.29	17.22	10.32	12.78	8.61	15.44	16.00
Sep 2000	13.38	14.16	11.83	22.78	11.30	17.19	10.36	12.79	8.61	15.41	15.94
Oct 2000	13.46	14.20	11.90	22.90	11.41	17.18	10.37	12.89	8.63	15.58	16.05
Nov 2000	13.49	14.25	11.94	23.00	11.38	17.20	10.37	12.98	8.67	15.43	16.11
Dec 2000	13.52	14.31	11.90	23.08	11.36	17.30	10.35	13.00	8.64	15.49	16.17
Jan 2001	13.55	14.31	12.00	23.01	11.35	17.24	10.38	13.05	8.72	15.43	16.16
Feb 2001	13.59	14.37	12.02	22.96	11.33	17.32	10.44	13.15	8.72	15.53	16.23
Mar 2001	13.61	14.38	12.04	22.43	11.36	17.41	10.48	13.08	8.79	15.54	16.24
Apr 2001	13.65	14.38	12.06	22.88	11.34	17.54	10.43	13.12	8.80	15.61	16.29
May 2001	13.68	14.47	12.11	22.92	11.36	17.50	10.48	13.12	8.85	15.57	16.29
Jun 2001	13.72	14.46	12.13	22.90	11.36	17.56	10.49	13.15	8.86	15.88	16.36
Jul 2001	13.78	14.49	12.22	23.03	11.38	17.61	10.50	13.21	8.82	15.96	16.32
Aug 2001	13.82	14.50	12.24	23.10	11.43	17.56	10.54	13.29	8.87	16.10	16.39
Sep 2001	13.88	14.54	12.27	23.03	11.46	17.82	10.51	13.30	8.85	16.10	16.47
Oct 2001	13.89	14.59	12.29	22.99	11.47	17.72	10.51	13.33	8.88	15.90	16.52
Nov 2001	13.91	14.62	12.32	22.87	11.52	17.72	10.53	13.32	8.88	16.15	16.54
Dec 2001	13.94	14.61	12.37	22.71	11.53	17.79	10.54	13.37	8.86	16.11	16.56
Jan 2002	13.97	14.66	12.40	22.69	11.60	17.81	10.60	13.40	8.94	16.16	16.59
Feb 2002	14.00	14.72	12.41	22.77	11.65	17.87	10.67	13.40	9.03	16.06	16.63
Mar 2002	14.02	14.77	12.41	22.68	11.68	17.89	10.73	13.44	9.04	16.11	16.68
Apr 2002	14.03	14.85	12.42	22.77	11.68	17.83	10.79	13.49	9.06	16.08	16.65
May 2002	14.09	14.89	12.50	22.81	11.72	17.81	10.92	13.49	9.09	16.07	16.82
Jun 2002	14.12	14.90	12.55	22.98	11.74	17.92	10.83	13.46	9.08	16.14	16.87
Jul 2002	14.18	14.89	12.63	23.09	11.81	17.99	10.89	13.53	9.13	16.10	16.94
Aug 2002	14.18	15.02	12.61	23.32	11.81	17.97	10.89	13.53	9.12	15.99	16.89
Sep 2002	14.22	15.06	12.58	23.37	11.73	18.06	10.91	13.62	9.14	16.01	16.96
Oct 2002	14.29	15.09	12.72	23.42	11.77	17.96	10.94	13.74	9.18	16.02	16.98
Nov 2002	14.28	15.12	12.59	23.19	11.75	18.22	10.98	13.75	9.22	16.00	16.96
Dec 2002	14.40	15.24	12.74	23.48	11.81	18.26	11.04	13.77	9.29	16.42	17.09
Jan 2003	14.44	15.26	12.71	23.51	11.96	18.29	11.00	13.87	9.28	16.20	17.16
Feb 2003	14.50	15.29	12.73	23.98	11.92	18.31	11.02	13.96	9.37	16.30	17.24
Mar 2003	14.55	15.32	12.79	23.73	11.93	18.40	10.89	14.04	9.45	16.31	17.20
Apr 2003	14.54	15.37	12.77	23.61	11.95	18.33	11.06	14.08	9.48	16.20	17.20
May 2003	14.58	15.37	12.77	23.62	11.93	18.51	11.08	14.14	9.51	16.34	17.24
Jun 2003	14.59	15.39	12.74	23.61	11.93	18.54	11.13	14.22	9.52	16.19	17.22
Jul 2003	14.66	15.44	12.79	23.38	11.95	18.48	11.13	14.32	9.66	16.21	17.32
Aug 2003	14.68	15.36	12.82	23.36	11.91	18.62	11.28	14.26	9.74	16.33	17.37
Sep 2003	14.70	15.39	12.87	23.55	12.04	18.60	11.32	14.29	9.74	16.27	17.36
Oct 2003	14.73	15.39	12.86	23.58	12.05	18.66	11.27	14.28	9.73	16.60	17.47
Nov 2003	14.80	15.44	12.90	23.80	12.07	18.71	11.26	14.34	9.72	16.88	17.60
Dec 2003	14.81	15.46	12.88	23.89	12.21	18.68	11.31	14.41	9.78	16.85	17.56
Jan 2004	14.87	15.54	12.90	24.14	12.04	18.79	11.34	14.37	9.71	17.16	17.72
Feb 2004	14.90	15.57	12.93	24.05	12.11	18.82	11.32	14.46	9.62	17.18	17.74
Mar 2004	14.93	15.64	12.95	24.47	12.10	18.88	11.27	14.48	9.62	17.28	17.75
Apr 2004	14.99	15.64	12.98	24.28	12.20	18.98	11.19	14.54	9.66	17.49	17.88
May 2004	15.00	15.65	12.98	24.48	12.10	19.05	11.26	14.56	9.59	17.52	17.93
Jun 2004	15.06	15.68	13.02	24.42	12.14	19.20	11.23	14.61	9.66	17.60	17.92
Jul 2004	15.10	15.69	13.04	24.56	12.11	19.30	11.33	14.65	9.74	17.59	17.92
Aug 2004	15.14	15.83	13.02	24.60	12.08	19.33	11.31	14.65	9.78	17.62	18.00
Sep 2004	15.19	15.82	13.02	24.62	12.25	19.40	11.36	14.74	9.92	17.54	18.15
Oct 2004	15.14	15.85	12.99	24.32	12.20	19.37	11.39	14.64	10.01	17.46	17.91
Nov 2004	15.16	15.87	12.97	24.54	12.06	19.42	11.39	14.66	10.02	17.10	18.09
Dec 2004	15.17	15.69	12.95	24.43	12.22	19.49	11.37	14.73	10.01	17.29	18.06
Jan 2005	15.19	15.74	13.03	24.53	12.26	19.44	11.30	14.74	10.09	17.12	18.03
Feb 2005	15.19	15.76	13.10	24.44	12.25	19.34	11.46	14.67	10.24	17.31	18.02
Mar 2005	15.22	15.70	13.05	24.42	12.28	19.54	11.53	14.74	10.09	17.42	18.08
Apr 2005	15.21	15.67	12.98	24.11	12.30	19.63	11.60	14.73	10.12	17.51	17.92
May 2005	15.30	15.67	13.04	24.63	12.45	19.78	11.55	14.88	10.21	17.42	18.04
Jun 2005	15.29	15.75	13.02	24.78	12.42	19.70	11.59	14.83	10.23	17.27	18.09
Jul 2005	15.28	15.72	12.98	24.73	12.40	19.75	11.59	14.83	10.28	17.34	18.07
Aug 2005	15.29	15.73	13.01	24.55	12.40	19.84	11.67	14.88	10.31	17.13	18.05
Sep 2005	15.30	15.86	13.03	24.40	12.37	19.81	11.61	14.82	10.34	17.12	17.92
Oct 2005	15.33	15.78	13.06	24.49	12.41	19.84	11.70	14.85	10.33	17.07	17.93
Nov 2005	15.28	15.69	13.07	24.35	12.53	19.66	11.76	14.82	10.43	17.13	17.88
Dec 2005	15.29	15.81	13.07	24.54	12.43	19.75	11.87	14.75	10.48	17.03	17.89
Jan 2006	15.31	15.90	13.06	24.22	12.41	19.85	11.76	14.88	10.55	17.01	17.89
Feb 2006	15.31	15.76	13.07	24.29	12.37	19.92	11.79	14.84	10.63	16.93	17.89
Mar 2006	15.30	15.79	13.08	24.19	12.42	19.71	11.74	14.87	10.65	16.77	17.93
Apr 2006	15.32	15.77	13.11	24.25	12.41	19.75	11.92	14.88	10.65	16.80	17.96
May 2006	15.31	15.90	13.12	24.15	12.46	19.59	12.04	14.88	10.66	16.74	17.91
Jun 2006	15.30	15.77	13.13	24.07	12.52	19.46	11.94	14.92	10.70	16.82	17.95
Jul 2006	15.26	15.76	13.09	23.63	12.49	19.30	11.94	14.93	10.68	16.75	18.10
Aug 2006	15.31	15.77	13.17	23.78	12.58	19.32	11.87	15.02	10.66	16.87	18.01
Sep 2006	15.30	15.72	13.11	24.00	12.56	19.39	11.90	15.04	10.64	16.91	18.08
Oct 2006	15.36	15.77	13.18	24.22	12.94	19.53	11.78	15.08	10.68	17.12	18.07
Nov 2006	15.35	15.85	13.16	24.45	12.80	19.55	11.91	15.13	10.62	16.92	18.03
Dec 2006	15.41	15.78	13.23	24.30	12.63	19.76	11.79	15.14	10.69	17.02	18.16
Jan 2007	15.44	15.82	13.33	24.58	12.80	19.58	11.91	15.17	10.81	16.95	18.16
Feb 2007	15.50	15.94	13.38	24.57	12.86	19.52	11.91	15.25	10.85	16.99	18.25
Mar 2007	15.51	15.91	13.39	24.37	12.81	19.56	11.84	15.24	10.82	17.32	18.30
Apr 2007	15.62	16.06	13.51	24.80	12.99	19.66	11.73	15.32	10.90	17.20	18.42
May 2007	15.64	16.04	13.53	24.85	12.96	19.58	11.78	15.33	11.08	17.29	18.46
Jun 2007	15.66	16.11	13.52	24.80	12.96	19.71	11.81	15.38	11.00	17.24	18.45
Jul 2007	15.69	16.21	13.57	25.15	13.08	19.69	11.76	15.30	11.12	17.43	18.46
Aug 2007	15.73	16.26	13.62	25.66	13.16	19.50	11.69	15.48	11.12	16.97	18.46
Sep 2007	15.75	16.31	13.62	25.79	13.14	19.43	11.71	15.48	11.09	17.38	18.51
Oct 2007	15.73	16.36	13.67	24.94	13.08	19.25	11.76	15.50	11.15	17.50	18.55
Nov 2007	15.86	16.26	13.71	26.96	13.08	19.39	11.67	15.52	11.25	18.29	18.62
Dec 2007	15.86	16.51	13.68	25.71	13.12	19.46	11.72	15.59	11.26	18.16	18.71
Jan 2008	15.92	16.51	13.80	26.03	13.20	19.35	11.76	15.50	11.27	18.31	18.79
Feb 2008	15.95	16.57	13.80	26.13	13.32	19.36	11.70	15.60	11.36	18.44	18.81
Mar 2008	16.04	16.66	13.89	26.73	13.43	19.40	11.78	15.73	11.40	18.16	18.83
Apr 2008	15.98	16.68	13.88	26.69	13.41	19.26	11.81	15.75	11.47	17.92	18.52
May 2008	16.06	16.78	13.92	27.13	13.50	19.29	11.84	15.78	11.45	17.80	18.76
Jun 2008	16.12	16.92	13.98	27.34	13.61	19.32	11.86	15.78	11.39	17.72	18.87
Jul 2008	16.16	16.84	14.02	27.66	13.76	19.40	11.74	15.84	11.32	17.84	18.89
Aug 2008	16.21	16.83	14.03	28.03	13.64	19.57	11.76	15.88	11.33	17.98	18.98
Sep 2008	16.29	16.83	14.12	28.23	13.65	19.68	11.81	15.97	11.41	18.12	19.00
Oct 2008	16.38	16.94	14.16	28.40	13.77	19.70	11.68	16.13	11.49	18.39	19.23
Nov 2008	16.36	16.81	14.16	28.22	13.74	19.81	11.59	16.15	11.37	18.64	18.96
Dec 2008	16.41	16.87	14.25	28.39	13.79	19.69	11.64	16.16	11.32	18.64	19.09
Jan 2009	16.47	16.75	14.29	28.69	13.90	19.95	11.43	16.17	11.42	18.71	19.31
Feb 2009	16.49	16.70	14.31	29.18	13.74	20.11	11.48	16.21	11.32	19.11	19.17
Mar 2009	16.47	16.68	14.28	29.31	13.85	20.07	11.36	16.21	11.30	19.13	19.06
Apr 2009	16.51	16.81	14.29	29.17	13.82	20.20	11.30	16.21	11.47	19.09	19.17
May 2009	16.47	16.69	14.28	29.04	13.72	20.26	11.31	16.13	11.34	19.24	19.12
Jun 2009	16.54	16.68	14.33	29.56	13.66	20.27	11.63	16.10	11.41	19.34	19.27
Jul 2009	16.50	16.69	14.33	29.76	13.56	20.29	11.19	15.72	11.40	19.48	19.31
Aug 2009	16.60	16.77	14.45	29.74	13.71	20.40	11.38	15.97	11.39	19.36	19.26
Sep 2009	16.73	16.80	14.65	29.77	13.69	20.48	11.34	16.09	11.46	19.47	19.45
Oct 2009	16.66	16.74	14.53	30.04	13.67	20.58	11.49	15.85	11.28	19.67	19.39
Nov 2009	16.69	16.86	14.49	30.62	13.66	20.65	11.62	15.85	11.37	19.82	19.50
Dec 2009	16.67	16.79	14.45	31.16	13.67	20.68	11.65	15.64	11.50	20.07	19.54
Jan 2010	16.67	16.94	14.32	31.21	13.45	20.64	11.80	15.80	11.29	20.30	19.62
Feb 2010	16.65	16.99	14.27	30.96	13.53	20.74	11.65	15.68	11.28	20.32	19.70
Mar 2010	16.69	17.01	14.36	31.20	13.45	20.65	11.63	15.67	11.38	20.37	19.94
Apr 2010	16.74	16.82	14.36	31.47	13.43	20.86	11.71	15.63	11.31	20.60	20.15
May 2010	16.82	16.95	14.40	31.30	13.43	20.93	11.93	15.68	11.36	20.79	20.25
Jun 2010	16.80	16.83	14.44	30.85	13.53	21.05	11.67	15.65	11.45	20.73	20.16
Jul 2010	16.81	16.90	14.43	30.91	13.75	21.13	11.90	15.63	11.48	20.41	20.09
Aug 2010	16.90	16.79	14.37	31.73	13.63	21.66	11.77	15.65	11.49	20.33	20.17
Sep 2010	16.92	16.98	14.41	31.51	13.73	21.68	11.80	15.71	11.59	20.18	20.16
Oct 2010	16.91	17.01	14.50	31.36	13.61	21.42	11.79	15.75	11.62	19.52	20.00
Nov 2010	16.92	16.99	14.51	31.74	13.69	21.28	12.00	15.82	11.66	19.63	20.03
Dec 2010	16.88	16.92	14.51	31.77	13.75	21.17	11.78	15.87	11.35	19.45	20.17
Jan 2011	16.99	17.25	14.54	31.85	13.99	21.32	11.79	16.00	11.91	19.23	20.19
Feb 2011	16.98	17.21	14.58	31.92	14.16	21.22	12.06	15.90	11.83	19.20	20.22
Mar 2011	16.99	17.19	14.59	31.47	13.97	21.44	12.21	15.84	11.77	19.16	20.08
Apr 2011	17.00	17.22	14.62	31.77	13.98	21.42	12.32	15.84	11.66	18.97	19.99
May 2011	17.05	17.29	14.62	31.98	13.96	21.46	12.18	15.90	11.75	18.78	20.23
Jun 2011	17.08	17.29	14.65	32.28	13.81	21.60	12.23	15.91	11.83	18.68	20.23
Jul 2011	17.11	17.32	14.68	32.14	13.76	21.70	12.27	15.89	11.80	18.70	20.33
Aug 2011	17.12	17.38	14.69	31.91	13.72	21.49	12.22	15.99	11.97	18.76	20.47
Sep 2011	17.09	17.29	14.67	31.66	13.68	21.38	12.25	16.06	12.04	18.70	20.40
Oct 2011	17.09	17.27	14.60	31.50	13.57	21.43	12.38	16.05	12.19	18.83	20.44
Nov 2011	17.08	17.32	14.64	31.47	13.59	21.44	12.28	15.95	12.31	18.57	20.51
Dec 2011	17.18	17.33	14.75	31.27	13.55	21.65	12.42	16.03	12.41	18.49	20.40
Jan 2012	17.19	17.13	14.83	31.31	13.17	21.65	12.39	16.00	12.56	18.45	20.41
Feb 2012	17.16	17.06	14.87	31.24	13.40	21.57	12.46	15.92	12.66	18.30	20.34
Mar 2012	17.22	17.23	14.88	31.18	13.39	21.63	12.53	16.04	12.70	18.29	20.47
Apr 2012	17.31	17.19	14.96	31.58	13.62	21.82	12.51	16.03	12.83	18.47	20.43
May 2012	17.25	17.19	15.03	31.99	13.48	21.51	12.74	15.90	12.97	18.50	20.20
Jun 2012	17.28	17.30	15.06	32.03	13.50	21.36	12.77	15.93	12.96	18.61	20.40
Jul 2012	17.36	17.28	15.11	32.39	13.48	21.43	12.65	16.18	13.12	18.74	20.44
Aug 2012	17.24	17.26	14.98	32.29	13.52	21.31	12.92	16.06	12.97	18.33	20.40
Sep 2012	17.28	17.34	14.98	32.78	13.63	21.36	12.94	15.94	13.00	18.19	20.52
Oct 2012	17.37	17.43	15.11	32.92	13.71	21.20	13.08	16.05	12.97	18.27	20.78
Nov 2012	17.39	17.49	15.22	32.59	13.63	21.13	13.13	16.11	12.83	18.37	20.61
Dec 2012	17.33	17.59	15.11	33.15	13.53	21.06	13.07	16.07	12.74	18.46	20.26
Jan 2013	17.47	17.68	15.32	33.48	13.73	21.23	13.03	16.09	12.89	18.45	20.39
Feb 2013	17.61	17.73	15.36	34.55	13.77	21.39	12.92	16.19	12.93	18.39	20.90
Mar 2013	17.52	17.61	15.42	34.18	13.78	21.27	12.81	16.14	13.03	18.20	20.35
Apr 2013	17.55	17.71	15.44	34.65	13.83	21.37	12.94	16.11	13.18	18.21	20.31
May 2013	17.56	17.71	15.47	34.47	13.68	21.43	12.81	16.16	13.19	18.26	20.37
Jun 2013	17.53	17.84	15.45	34.51	13.86	21.34	12.86	16.21	13.15	18.11	20.23
Jul 2013	17.51	17.77	15.41	34.35	13.81	21.41	12.88	16.18	13.26	18.29	20.14
Aug 2013	17.56	17.85	15.43	34.81	13.93	21.44	12.80	16.16	13.30	18.45	20.27
Sep 2013	17.54	17.80	15.43	34.79	13.89	21.42	12.86	16.15	13.28	18.61	20.18
Oct 2013	17.56	17.76	15.45	35.14	14.02	21.49	12.83	16.14	13.29	18.54	20.26
Nov 2013	17.61	17.90	15.47	35.10	14.06	21.67	12.85	16.22	13.34	18.58	20.10
Dec 2013	17.67	18.00	15.49	35.02	14.24	21.72	12.93	16.31	13.40	18.57	20.25
Jan 2014	17.67	17.98	15.50	35.00	14.10	21.61	13.07	16.40	13.36	18.56	20.19
Feb 2014	17.69	17.94	15.50	35.12	14.00	21.62	13.13	16.41	13.33	18.56	20.25
Mar 2014	17.68	17.96	15.50	35.26	14.05	21.61	13.26	16.37	13.39	18.71	20.23
Apr 2014	17.66	17.95	15.46	35.05	14.07	21.59	13.30	16.40	13.10	18.77	20.24
May 2014	17.63	18.06	15.44	35.20	14.14	21.25	13.42	16.43	13.34	18.60	20.18
Jun 2014	17.70	17.94	15.48	35.41	13.98	21.46	13.32	16.49	13.48	18.72	20.26
Jul 2014	17.74	17.97	15.55	35.26	14.07	21.37	13.30	16.53	13.47	18.73	20.38
Aug 2014	17.80	18.06	15.58	35.49	14.14	21.42	13.41	16.49	13.69	18.99	20.35
Sep 2014	17.78	18.01	15.61	35.50	14.25	21.43	13.44	16.54	13.69	18.57	20.29
Oct 2014	17.83	18.01	15.63	35.81	14.25	21.46	13.52	16.63	13.80	18.35	20.54
Nov 2014	17.86	18.03	15.66	35.98	14.38	21.49	13.42	16.64	13.85	18.29	20.61
Dec 2014	17.87	18.02	15.66	36.33	14.28	21.53	13.42	16.66	13.80	18.20	20.68
Jan 2015	17.90	18.09	15.57	37.27	14.37	21.55	13.33	16.65	13.69	18.52	20.89
Feb 2015	17.93	18.11	15.69	36.32	14.30	21.63	13.32	16.65	13.72	18.69	21.07
Mar 2015	17.98	18.18	15.70	36.79	14.38	21.73	13.37	16.75	13.55	18.78	21.15
Apr 2015	18.03	18.26	15.73	36.87	14.38	21.72	13.13	16.83	13.64	18.78	21.17
May 2015	18.06	18.25	15.78	36.72	14.54	21.81	13.04	16.80	13.70	18.73	21.25
Jun 2015	18.11	18.29	15.84	37.00	14.68	21.67	13.21	16.78	13.71	18.69	21.47
Jul 2015	18.23	18.42	15.95	37.33	14.84	21.66	13.29	16.92	13.69	19.31	21.59
Aug 2015	18.25	18.34	16.00	37.30	14.81	21.71	13.35	16.97	13.59	19.23	21.65
Sep 2015	18.45	18.43	16.16	38.85	14.96	21.96	13.32	17.01	13.65	19.31	22.01
Oct 2015	18.38	18.44	16.17	37.66	15.01	21.87	13.27	16.95	13.72	19.23	21.81
Nov 2015	18.36	18.43	16.12	37.80	15.18	21.91	13.43	16.96	13.64	19.28	21.72
Dec 2015	18.39	18.39	16.16	38.37	15.45	21.85	13.58	16.93	13.68	19.31	21.79
Jan 2016	18.42	18.41	16.25	37.96	15.46	21.93	13.18	16.91	14.12	19.27	21.77
Feb 2016	18.43	18.39	16.22	38.42	15.90	21.85	13.43	17.00	13.90	19.54	21.68
Mar 2016	18.49	18.52	16.28	37.59	15.80	21.99	13.49	17.05	14.07	19.67	21.76
Apr 2016	18.61	18.54	16.37	38.76	15.99	22.18	13.56	17.11	13.93	19.87	21.74
May 2016	18.68	18.59	16.41	38.73	15.79	22.48	13.62	17.18	13.92	19.96	21.72
Jun 2016	18.75	18.61	16.48	38.68	15.96	22.91	13.59	17.20	13.70	19.87	21.67
Jul 2016	18.80	18.66	16.53	38.92	15.76	23.08	13.71	17.18	13.53	19.89	21.61
Aug 2016	18.90	18.83	16.67	39.05	15.70	23.17	13.64	17.20	13.47	20.06	21.82
Sep 2016	18.92	18.61	16.74	39.39	15.59	23.17	13.80	17.25	13.47	19.99	21.65
Oct 2016	18.94	18.60	16.74	39.26	15.60	23.27	13.65	17.33	13.48	20.24	21.66
Nov 2016	19.00	18.62	16.78	39.66	15.47	23.31	13.95	17.36	13.51	20.24	21.74
Dec 2016	19.01	18.59	16.78	39.58	15.60	23.35	14.11	17.39	13.64	20.19	21.78
Jan 2017	18.99	18.50	16.69	39.84	15.50	23.21	14.41	17.49	13.69	20.15	21.84
Feb 2017	19.08	18.62	16.82	39.79	15.64	23.52	14.51	17.45	13.57	20.05	21.80
Mar 2017	19.11	18.59	16.85	39.71	15.70	23.64	14.41	17.48	13.80	20.07	21.63
Apr 2017	19.21	18.66	16.84	39.54	15.45	24.02	14.60	17.60	14.03	19.99	21.74
May 2017	19.21	18.59	16.92	39.17	15.87	23.99	14.80	17.39	14.04	19.97	21.84
Jun 2017	19.31	18.58	16.99	40.32	15.93	24.04	14.93	17.39	14.29	20.01	21.97
Jul 2017	19.35	18.60	16.93	40.46	16.32	24.40	14.76	17.53	14.56	19.92	21.83
Aug 2017	19.36	18.58	16.88	40.64	16.12	24.40	15.01	17.66	14.64	19.82	21.78
Sep 2017	19.40	18.64	16.90	40.50	16.11	24.56	14.98	17.75	15.01	19.84	21.70
Oct 2017	19.47	18.64	16.94	40.11	16.18	24.87	15.03	17.91	14.72	19.63	21.60
Nov 2017	19.54	18.64	17.02	39.56	16.45	25.06	15.19	17.83	14.82	19.95	21.70
Dec 2017	19.62	18.71	17.21	38.94	16.19	25.23	14.88	17.94	14.88	20.01	21.70
Jan 2018	19.71	18.69	17.20	39.47	16.42	25.57	15.22	17.97	14.92	19.92	21.62
Feb 2018	19.80	18.72	17.19	39.69	16.36	25.83	15.28	18.14	15.06	20.09	21.70
Mar 2018	19.87	18.59	17.30	40.22	16.39	26.06	15.24	18.23	14.98	19.89	21.66
Apr 2018	19.88	18.69	17.45	40.83	16.41	25.35	15.42	18.23	15.11	19.87	21.81
May 2018	19.90	18.84	17.39	40.26	16.50	25.28	15.26	18.43	15.12	19.97	21.94
Jun 2018	19.86	18.73	17.42	39.54	16.37	25.28	15.15	18.48	15.56	20.07	21.85
Jul 2018	19.83	18.71	17.43	39.54	16.54	24.93	15.38	18.57	15.39	20.14	21.83
Aug 2018	19.92	18.68	17.51	39.84	16.37	25.16	15.33	18.75	15.23	20.14	21.88
Sep 2018	20.00	18.70	17.48	40.64	16.38	25.31	15.46	18.62	15.82	20.24	22.01
Oct 2018	20.13	18.83	17.69	41.85	16.65	25.26	15.36	18.66	15.50	20.35	22.00
Nov 2018	20.23	18.92	17.77	41.44	16.43	25.73	15.30	18.71	15.63	20.13	22.21
Dec 2018	20.25	18.85	17.85	41.03	16.55	25.63	15.27	18.78	15.64	20.26	22.10

Motor vehicles and parts

As shown in table 2, hourly earnings in motor vehicles and parts, at $15.00, were the highest of all durable goods industries in 1990. By 2018, that figure stood at $22.77, which is a 1.5-percent annualized increase, the slowest growth rate of all industries in manufacturing over the 1990–2018 period. Meanwhile, total private hourly earnings grew by 2.9 percent per year over the same period, or nearly twice the rate of growth in motor vehicles and parts.

Although hourly earnings growth in the motor vehicles and parts industry was relatively slow over the period, average weekly hours in the industry increased by 10 percent. In fact, as of December 2018, motor vehicles and parts had the highest average weekly hours of all durable goods industries. As a result of the growth in the industry’s workweek, weekly earnings rose from $621.58 in 1990 to $1,017.37 in 2018, an annualized 1.8-percent growth rate, which was still slower than the 2.8-percent rate for the private sector as a whole.

The relatively small gains in hourly and weekly earnings over the period did not keep pace with inflation. As a result, for the motor vehicles and parts industry, both inflation-adjusted average hourly earnings and inflation-adjusted average weekly earnings declined over the 1990–2018 period. (See table 5.)

Table 5. Real average hourly earnings and real average weekly earnings of production and nonsupervisory workers. total private and motor vehicles and parts, annual averages, not seasonally adjusted, 1990–2018
Industry	Real hourly earnings			Real weekly earnings
Industry	1990	2018	Percent change	1990	2018	Percent change
Total private	$7.91	$9.26	17.1%	$271.03	$312.91	15.5%
Motor vehicles and parts	11.63	9.29	-20.1	481.84	415.01	-13.9
Note: Real earnings are earnings adjusted for inflation. Source: U.S. Bureau of Labor Statistics

The decline in earnings represents a decline in the purchasing power of these workers. By contrast, inflation-adjusted hourly and weekly earnings in the total private sector increased over the period. (See figure 5.)

⁠

Figure 5. Percent change since 1990 in real average hourly earnings of production and nonsupervisory workers, total private and motor vehicles and parts, seasonally adjusted, 1990–2018
Month	Total private	Motor vehicles and parts
Jan 1990	0.0	0.0
Feb 1990	0.0	4.4
Mar 1990	0.1	5.0
Apr 1990	0.0	3.9
May 1990	0.3	4.2
Jun 1990	0.1	3.9
Jul 1990	-0.3	3.3
Aug 1990	-0.9	2.6
Sep 1990	-1.3	2.4
Oct 1990	-1.6	3.3
Nov 1990	-1.8	-0.4
Dec 1990	-1.9	0.7
Jan 1991	-1.8	1.9
Feb 1991	-1.6	1.1
Mar 1991	-1.5	1.1
Apr 1991	-1.3	2.3
May 1991	-1.4	2.8
Jun 1991	-1.4	3.5
Jul 1991	-1.3	5.1
Aug 1991	-1.3	4.1
Sep 1991	-1.4	4.8
Oct 1991	-1.5	4.9
Nov 1991	-1.8	3.7
Dec 1991	-1.8	3.4
Jan 1992	-1.6	1.8
Feb 1992	-1.6	2.7
Mar 1992	-1.8	2.3
Apr 1992	-1.8	2.4
May 1992	-1.8	2.7
Jun 1992	-1.9	2.5
Jul 1992	-1.9	2.7
Aug 1992	-1.9	2.7
Sep 1992	-2.0	1.3
Oct 1992	-2.1	1.6
Nov 1992	-2.1	1.3
Dec 1992	-2.3	1.5
Jan 1993	-2.1	2.0
Feb 1993	-2.1	2.3
Mar 1993	-2.0	2.6
Apr 1993	-2.3	2.8
May 1993	-2.4	3.1
Jun 1993	-2.3	3.2
Jul 1993	-2.1	1.9
Aug 1993	-2.3	2.5
Sep 1993	-2.0	3.3
Oct 1993	-2.3	3.8
Nov 1993	-2.1	5.0
Dec 1993	-2.1	5.8
Jan 1994	-2.0	5.6
Feb 1994	-1.8	6.1
Mar 1994	-1.9	5.4
Apr 1994	-1.9	6.0
May 1994	-1.9	5.2
Jun 1994	-2.1	5.1
Jul 1994	-2.1	5.5
Aug 1994	-2.5	5.6
Sep 1994	-2.4	5.6
Oct 1994	-2.1	5.0
Nov 1994	-2.3	5.7
Dec 1994	-2.1	5.8
Jan 1995	-2.4	5.4
Feb 1995	-2.3	5.7
Mar 1995	-2.3	5.3
Apr 1995	-2.5	3.8
May 1995	-2.4	3.9
Jun 1995	-2.4	3.9
Jul 1995	-2.0	5.3
Aug 1995	-2.1	4.7
Sep 1995	-1.9	4.8
Oct 1995	-2.0	5.0
Nov 1995	-1.8	4.2
Dec 1995	-1.8	4.1
Jan 1996	-1.9	4.2
Feb 1996	-2.0	3.9
Mar 1996	-2.1	0.5
Apr 1996	-1.9	5.3
May 1996	-2.0	5.2
Jun 1996	-1.8	5.5
Jul 1996	-1.6	6.3
Aug 1996	-1.5	5.4
Sep 1996	-1.5	4.9
Oct 1996	-1.6	3.0
Nov 1996	-1.5	2.6
Dec 1996	-1.5	3.8
Jan 1997	-1.3	4.2
Feb 1997	-1.3	3.3
Mar 1997	-0.9	3.4
Apr 1997	-0.8	3.4
May 1997	-0.4	3.7
Jun 1997	-0.4	3.4
Jul 1997	-0.1	2.1
Aug 1997	0.3	3.2
Sep 1997	0.1	2.0
Oct 1997	0.6	4.9
Nov 1997	0.9	4.9
Dec 1997	1.1	5.0
Jan 1998	1.3	3.5
Feb 1998	1.6	4.3
Mar 1998	2.0	4.5
Apr 1998	2.4	3.1
May 1998	2.4	2.3
Jun 1998	2.4	1.0
Jul 1998	2.4	-3.6
Aug 1998	2.8	0.0
Sep 1998	3.0	-0.2
Oct 1998	3.0	-0.7
Nov 1998	3.1	-0.9
Dec 1998	3.3	-1.7
Jan 1999	3.4	-1.3
Feb 1999	3.8	-0.6
Mar 1999	3.9	0.3
Apr 1999	3.6	0.4
May 1999	3.9	0.5
Jun 1999	4.2	1.9
Jul 1999	4.2	1.7
Aug 1999	4.0	1.1
Sep 1999	4.0	0.8
Oct 1999	4.0	-0.3
Nov 1999	4.0	-0.4
Dec 1999	4.0	-0.3
Jan 2000	4.2	0.7
Feb 2000	4.2	0.0
Mar 2000	3.8	-0.6
Apr 2000	4.3	0.0
May 2000	4.4	-0.1
Jun 2000	4.2	-0.2
Jul 2000	4.2	-0.4
Aug 2000	4.5	0.1
Sep 2000	4.3	-0.3
Oct 2000	4.5	1.2
Nov 2000	4.9	1.2
Dec 2000	5.0	-0.3
Jan 2001	4.4	-2.4
Feb 2001	4.7	-1.3
Mar 2001	5.2	-1.3
Apr 2001	5.0	-1.5
May 2001	4.8	-0.6
Jun 2001	5.0	-0.6
Jul 2001	5.4	1.2
Aug 2001	5.7	1.0
Sep 2001	5.3	0.8
Oct 2001	6.0	1.9
Nov 2001	6.5	2.6
Dec 2001	7.0	3.7
Jan 2002	6.9	3.6
Feb 2002	6.9	4.7
Mar 2002	6.9	5.3
Apr 2002	6.4	5.4
May 2002	6.7	5.7
Jun 2002	6.9	5.8
Jul 2002	7.0	5.4
Aug 2002	7.0	6.2
Sep 2002	7.2	6.2
Oct 2002	7.3	8.2
Nov 2002	7.4	9.2
Dec 2002	7.5	8.2
Jan 2003	7.2	7.9
Feb 2003	7.0	6.8
Mar 2003	6.7	6.5
Apr 2003	7.3	6.3
May 2003	7.9	7.4
Jun 2003	8.1	7.6
Jul 2003	7.9	7.7
Aug 2003	7.5	7.0
Sep 2003	7.2	6.9
Oct 2003	7.4	5.8
Nov 2003	7.8	6.0
Dec 2003	7.5	5.7
Jan 2004	7.3	5.3
Feb 2004	7.2	4.9
Mar 2004	7.2	4.7
Apr 2004	7.3	5.0
May 2004	7.0	3.7
Jun 2004	6.9	3.6
Jul 2004	6.9	3.5
Aug 2004	7.2	3.9
Sep 2004	7.2	4.4
Oct 2004	6.7	3.8
Nov 2004	6.3	3.7
Dec 2004	6.4	4.0
Jan 2005	6.8	4.5
Feb 2005	6.5	4.5
Mar 2005	6.5	3.7
Apr 2005	6.4	3.0
May 2005	6.7	3.6
Jun 2005	6.8	3.1
Jul 2005	6.5	2.4
Aug 2005	5.9	2.9
Sep 2005	4.4	1.0
Oct 2005	5.0	2.3
Nov 2005	5.9	3.1
Dec 2005	6.3	3.0
Jan 2006	5.9	2.0
Feb 2006	6.3	1.6
Mar 2006	6.5	1.7
Apr 2006	6.5	0.5
May 2006	6.3	0.5
Jun 2006	6.5	0.1
Jul 2006	6.3	-1.7
Aug 2006	6.2	-2.5
Sep 2006	7.0	-2.7
Oct 2006	8.1	-2.4
Nov 2006	8.3	-2.6
Dec 2006	8.1	-2.8
Jan 2007	8.2	-3.5
Feb 2007	8.2	-4.1
Mar 2007	7.9	-3.8
Apr 2007	7.9	-2.6
May 2007	7.8	-3.4
Jun 2007	8.2	-3.3
Jul 2007	8.2	-4.0
Aug 2007	8.4	-2.5
Sep 2007	8.3	-3.6
Oct 2007	8.1	-5.3
Nov 2007	7.4	-5.7
Dec 2007	7.4	-5.9
Jan 2008	7.3	-5.5
Feb 2008	7.4	-5.2
Mar 2008	7.5	-5.9
Apr 2008	7.4	-5.8
May 2008	7.2	-6.7
Jun 2008	6.2	-7.5
Jul 2008	5.7	-8.1
Aug 2008	6.4	-9.4
Sep 2008	6.4	-8.2
Oct 2008	7.9	-7.8
Nov 2008	10.8	-5.1
Dec 2008	12.3	-4.7
Jan 2009	12.1	-5.8
Feb 2009	11.9	-5.7
Mar 2009	12.5	-6.0
Apr 2009	12.3	-6.9
May 2009	12.2	-8.3
Jun 2009	11.2	-8.9
Jul 2009	11.3	-5.5
Aug 2009	11.4	-8.7
Sep 2009	11.3	-8.7
Oct 2009	11.2	-8.6
Nov 2009	11.2	-9.3
Dec 2009	11.2	-9.0
Jan 2010	11.3	-8.8
Feb 2010	11.7	-9.4
Mar 2010	11.6	-9.7
Apr 2010	11.8	-9.2
May 2010	12.2	-8.4
Jun 2010	12.3	-8.3
Jul 2010	12.2	-7.4
Aug 2010	12.5	-10.1
Sep 2010	12.2	-7.9
Oct 2010	12.3	-8.5
Nov 2010	12.1	-9.1
Dec 2010	11.6	-9.5
Jan 2011	11.7	-10.2
Feb 2011	11.3	-10.4
Mar 2011	10.7	-10.1
Apr 2011	10.3	-11.0
May 2011	10.2	-11.0
Jun 2011	10.3	-11.8
Jul 2011	10.3	-12.6
Aug 2011	9.9	-14.3
Sep 2011	9.8	-14.2
Oct 2011	10.1	-13.7
Nov 2011	9.8	-14.4
Dec 2011	9.9	-14.5
Jan 2012	9.7	-14.1
Feb 2012	9.4	-15.1
Mar 2012	9.6	-15.9
Apr 2012	9.6	-15.8
May 2012	9.8	-16.7
Jun 2012	10.2	-16.2
Jul 2012	10.4	-16.6
Aug 2012	9.7	-17.5
Sep 2012	9.3	-18.7
Oct 2012	8.9	-18.7
Nov 2012	9.6	-17.5
Dec 2012	9.9	-18.2
Jan 2013	9.9	-18.6
Feb 2013	9.6	-19.3
Mar 2013	10.1	-19.2
Apr 2013	10.6	-19.3
May 2013	10.6	-19.1
Jun 2013	10.6	-19.6
Jul 2013	10.6	-18.9
Aug 2013	10.4	-18.5
Sep 2013	10.7	-18.2
Oct 2013	10.8	-18.1
Nov 2013	10.9	-18.3
Dec 2013	10.7	-18.2
Jan 2014	10.8	-19.0
Feb 2014	11.2	-18.8
Mar 2014	10.9	-17.7
Apr 2014	10.8	-18.9
May 2014	10.9	-18.7
Jun 2014	10.8	-18.6
Jul 2014	10.9	-18.5
Aug 2014	11.3	-19.0
Sep 2014	11.4	-19.2
Oct 2014	11.7	-18.6
Nov 2014	12.3	-18.1
Dec 2014	12.6	-18.4
Jan 2015	14.1	-17.2
Feb 2015	14.0	-17.4
Mar 2015	13.7	-17.5
Apr 2015	13.8	-17.3
May 2015	13.8	-17.4
Jun 2015	13.6	-17.6
Jul 2015	13.5	-18.2
Aug 2015	13.8	-18.2
Sep 2015	14.5	-17.4
Oct 2015	14.8	-18.2
Nov 2015	14.7	-19.0
Dec 2015	15.1	-18.1
Jan 2016	15.5	-18.0
Feb 2016	16.1	-17.4
Mar 2016	16.0	-17.7
Apr 2016	15.8	-18.6
May 2016	15.7	-18.1
Jun 2016	15.6	-18.2
Jul 2016	15.8	-16.7
Aug 2016	15.8	-17.4
Sep 2016	15.7	-18.6
Oct 2016	15.8	-18.8
Nov 2016	15.8	-19.0
Dec 2016	15.6	-19.7
Jan 2017	15.3	-20.3
Feb 2017	15.6	-20.4
Mar 2017	15.8	-20.2
Apr 2017	16.0	-19.9
May 2017	16.2	-19.0
Jun 2017	16.5	-19.8
Jul 2017	16.6	-19.6
Aug 2017	16.2	-19.4
Sep 2017	16.1	-19.8
Oct 2017	16.0	-19.0
Nov 2017	15.8	-19.6
Dec 2017	16.0	-18.2
Jan 2018	15.7	-17.7
Feb 2018	15.7	-18.3
Mar 2018	16.1	-18.1
Apr 2018	16.2	-17.9
May 2018	16.2	-18.2
Jun 2018	16.2	-18.2
Jul 2018	16.2	-18.3
Aug 2018	16.6	-18.0
Sep 2018	16.9	-17.7
Oct 2018	16.6	-17.9
Nov 2018	17.2	-17.3
Dec 2018	17.9	-17.1

The driving force behind the stagnation in earnings was contract negotiations and concessions agreed to by the United Automobile Workers (UAW) and the automobile manufacturers. Negotiations between labor and management throughout much of the second half of the 20th century led to the establishment of pension plans and certain standard-of-living guarantees at Detroit’s three major automobile manufacturers. Nevertheless, recessionary pressures and competition from foreign automobile manufacturers began to exert downward pressure on earnings of workers in the industry during the 1990–2018 period.

As sales of imported vehicles increased in the late 1970s and early 1980s, the dominance of domestic manufacturers in the U.S. automobile market declined. To address the impact of weak sales and to help ensure the survival of the industry, automakers and the UAW agreed to several concessions affecting autoworkers’ pay:

In 2007, a contract between the UAW and the three major U.S. automakers eliminated pay increases, while allowing signing bonuses, cost-of-living adjustments, and certain lump-sum bonus payments to continue. According to the Center for Automotive Research, the effect of these concessions by autoworkers was to lower average hourly labor costs from an estimated $72 to $78 per hour to approximately $50 to $58 per hour.[10]
In 2009, following the hardships brought on by the Great Recession (December 2007 to June 2009), the 2007 agreement was modified to suspend the cost-of-living adjustments and certain bonus payments while tightening overtime and break-time allowances.[11]
In 2011, the job banks for idled workers were eliminated and cost-of-living adjustments remained suspended.[12]

Petroleum and coal products

Production workers in petroleum and coal products manufacturing experienced the largest increase in hourly earnings among all manufacturing workers over the 1990–2018 period, with their hourly wages rising from $17.00 to $40.32. A driving force behind the strong earnings growth in the industry has been the price of oil and, by extension, gasoline. Figure 6 shows average hourly earnings of production workers in petroleum and coal products manufacturing over the 1990–2018 period, as well as the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), U.S. city average for gasoline (all types). As the figure shows, for much of the period, earnings in the industry have increased with the rising price of gasoline. However, there tends to be a lag in this effect—the sharp increase in gasoline prices that occurred from 2002 to 2008 resulted in a steep increase in average hourly earnings from 2007 to 2011. As the price of gas oscillated substantially during the 2008–18 period (within a range well above pre-2002 levels), hourly earnings continued to increase steadily during the period from about 2012 to 2018.

⁠

Figure 6. Average hourly earnings of production workers in petroleum and coal products manufacturing and CPI-W, U.S. city average for gasoline (all types), 1990–2018, seasonally adjusted
Month	Average hourly earnings, petroleum and coal products manufacturing	CPI-W, U.S. city average for gasoline (all types)
Jan 1990	$16.61	93.3
Feb 1990	16.42	93.4
Mar 1990	16.59	92.7
Apr 1990	16.87	93.1
May 1990	16.87	91.6
Jun 1990	17.10	92.9
Jul 1990	17.14	93.3
Aug 1990	17.10	101.0
Sep 1990	17.20	109.5
Oct 1990	17.25	117.1
Nov 1990	17.35	117.3
Dec 1990	17.35	117.6
Jan 1991	17.45	110.9
Feb 1991	17.61	102.6
Mar 1991	17.64	97.9
Apr 1991	17.64	97.9
May 1991	17.83	99.3
Jun 1991	17.88	98.3
Jul 1991	17.90	96.6
Aug 1991	17.98	97.8
Sep 1991	18.10	97.8
Oct 1991	18.11	97.1
Nov 1991	18.26	98.1
Dec 1991	18.42	99.4
Jan 1992	18.36	97.2
Feb 1992	18.53	96.6
Mar 1992	18.62	96.9
Apr 1992	18.71	96.6
May 1992	18.76	97.5
Jun 1992	18.76	99.7
Jul 1992	18.86	100.4
Aug 1992	19.00	99.7
Sep 1992	18.98	99.5
Oct 1992	19.11	100.8
Nov 1992	19.18	101.2
Dec 1992	19.05	101.7
Jan 1993	19.24	101.3
Feb 1993	18.97	101.4
Mar 1993	19.24	100.6
Apr 1993	19.36	99.9
May 1993	19.51	97.8
Jun 1993	19.54	96.5
Jul 1993	19.54	95.2
Aug 1993	19.56	94.9
Sep 1993	19.56	93.8
Oct 1993	19.53	98.7
Nov 1993	19.50	97.2
Dec 1993	19.65	95.7
Jan 1994	19.69	94.6
Feb 1994	19.77	96.3
Mar 1994	19.90	95.7
Apr 1994	19.70	95.6
May 1994	19.69	93.7
Jun 1994	19.90	94.9
Jul 1994	19.95	97.8
Aug 1994	19.96	102.6
Sep 1994	20.28	101.9
Oct 1994	20.23	101.1
Nov 1994	20.16	101.9
Dec 1994	20.29	101.8
Jan 1995	20.04	100.9
Feb 1995	20.16	100.6
Mar 1995	19.87	100.0
Apr 1995	20.26	100.5
May 1995	20.15	101.6
Jun 1995	20.22	103.6
Jul 1995	20.31	101.1
Aug 1995	20.34	99.5
Sep 1995	20.29	98.1
Oct 1995	20.58	97.6
Nov 1995	20.28	95.7
Dec 1995	20.24	97.5
Jan 1996	20.26	101.4
Feb 1996	20.10	101.2
Mar 1996	19.65	104.2
Apr 1996	19.97	108.7
May 1996	19.99	109.4
Jun 1996	20.00	107.8
Jul 1996	20.05	106.0
Aug 1996	20.13	104.3
Sep 1996	20.27	104.5
Oct 1996	20.26	105.2
Nov 1996	20.47	107.5
Dec 1996	21.12	110.7
Jan 1997	20.99	111.4
Feb 1997	20.99	110.7
Mar 1997	21.04	108.1
Apr 1997	20.63	105.0
May 1997	21.06	101.0
Jun 1997	21.11	103.0
Jul 1997	21.09	101.3
Aug 1997	21.16	106.3
Sep 1997	21.19	108.5
Oct 1997	21.25	106.9
Nov 1997	21.32	104.5
Dec 1997	21.37	103.5
Jan 1998	21.46	99.3
Feb 1998	21.47	95.8
Mar 1998	21.70	91.9
Apr 1998	21.74	89.6
May 1998	21.83	91.4
Jun 1998	21.83	92.7
Jul 1998	21.86	92.7
Aug 1998	21.93	90.4
Sep 1998	21.68	89.8
Oct 1998	21.91	90.8
Nov 1998	21.74	89.4
Dec 1998	21.96	87.3
Jan 1999	21.95	86.8
Feb 1999	21.98	84.9
Mar 1999	22.03	87.8
Apr 1999	22.32	98.0
May 1999	22.23	97.5
Jun 1999	22.25	96.7
Jul 1999	22.28	101.1
Aug 1999	22.30	106.3
Sep 1999	22.38	110.3
Oct 1999	22.36	110.0
Nov 1999	22.39	108.8
Dec 1999	22.32	114.5
Jan 2000	22.32	116.4
Feb 2000	22.74	120.1
Mar 2000	22.81	133.4
Apr 2000	22.71	124.8
May 2000	22.70	123.8
Jun 2000	22.84	136.3
Jul 2000	22.88	134.1
Aug 2000	22.74	126.0
Sep 2000	22.78	134.6
Oct 2000	22.90	132.9
Nov 2000	23.00	132.1
Dec 2000	23.08	130.6
Jan 2001	23.01	130.9
Feb 2001	22.96	129.3
Mar 2001	22.43	125.6
Apr 2001	22.88	128.5
May 2001	22.92	140.7
Jun 2001	22.90	137.1
Jul 2001	23.03	122.5
Aug 2001	23.10	120.5
Sep 2001	23.03	131.8
Oct 2001	22.99	116.9
Nov 2001	22.87	104.1
Dec 2001	22.71	99.7
Jan 2002	22.69	100.9
Feb 2002	22.77	99.9
Mar 2002	22.68	108.1
Apr 2002	22.77	116.2
May 2002	22.81	116.8
Jun 2002	22.98	117.3
Jul 2002	23.09	119.0
Aug 2002	23.32	120.1
Sep 2002	23.37	121.0
Oct 2002	23.42	126.5
Nov 2002	23.19	125.6
Dec 2002	23.48	125.1
Jan 2003	23.51	137.4
Feb 2003	23.98	149.1
Mar 2003	23.73	147.6
Apr 2003	23.61	133.8
May 2003	23.62	119.4
Jun 2003	23.61	120.0
Jul 2003	23.38	125.6
Aug 2003	23.36	137.2
Sep 2003	23.55	146.9
Oct 2003	23.58	137.3
Nov 2003	23.80	136.4
Dec 2003	23.89	140.0
Jan 2004	24.14	148.8
Feb 2004	24.05	151.5
Mar 2004	24.47	151.6
Apr 2004	24.28	147.5
May 2004	24.48	155.2
Jun 2004	24.42	160.9
Jul 2004	24.56	158.8
Aug 2004	24.60	158.1
Sep 2004	24.62	161.6
Oct 2004	24.32	173.4
Nov 2004	24.54	179.7
Dec 2004	24.43	176.7
Jan 2005	24.53	167.5
Feb 2005	24.44	174.7
Mar 2005	24.42	178.1
Apr 2005	24.11	181.5
May 2005	24.63	172.6
Jun 2005	24.78	173.7
Jul 2005	24.73	191.3
Aug 2005	24.55	211.9
Sep 2005	24.40	251.4
Oct 2005	24.49	239.7
Nov 2005	24.35	202.8
Dec 2005	24.54	201.4
Jan 2006	24.22	214.0
Feb 2006	24.29	210.9
Mar 2006	24.19	209.1
Apr 2006	24.25	224.9
May 2006	24.15	228.0
Jun 2006	24.07	228.7
Jul 2006	23.63	246.2
Aug 2006	23.78	253.7
Sep 2006	24.00	222.0
Oct 2006	24.22	197.7
Nov 2006	24.45	195.5
Dec 2006	24.30	212.0
Jan 2007	24.58	205.9
Feb 2007	24.57	209.0
Mar 2007	24.37	223.3
Apr 2007	24.80	230.0
May 2007	24.85	241.4
Jun 2007	24.80	242.1
Jul 2007	25.15	243.3
Aug 2007	25.66	237.5
Sep 2007	25.79	245.8
Oct 2007	24.94	247.4
Nov 2007	26.96	269.0
Dec 2007	25.71	272.9
Jan 2008	26.03	274.7
Feb 2008	26.13	278.5
Mar 2008	26.73	280.5
Apr 2008	26.69	277.9
May 2008	27.13	291.3
Jun 2008	27.34	323.0
Jul 2008	27.66	335.6
Aug 2008	28.03	320.6
Sep 2008	28.23	323.3
Oct 2008	28.40	279.7
Nov 2008	28.22	192.3
Dec 2008	28.39	155.0
Jan 2009	28.69	161.6
Feb 2009	29.18	175.3
Mar 2009	29.31	167.5
Apr 2009	29.17	168.9
May 2009	29.04	177.8
Jun 2009	29.56	213.9
Jul 2009	29.76	212.4
Aug 2009	29.74	224.6
Sep 2009	29.77	226.9
Oct 2009	30.04	229.6
Nov 2009	30.62	239.1
Dec 2009	31.16	238.3
Jan 2010	31.21	243.1
Feb 2010	30.96	236.9
Mar 2010	31.20	234.2
Apr 2010	31.47	233.6
May 2010	31.30	228.8
Jun 2010	30.85	223.9
Jul 2010	30.91	230.0
Aug 2010	31.73	233.6
Sep 2010	31.51	236.8
Oct 2010	31.36	251.0
Nov 2010	31.74	257.2
Dec 2010	31.77	272.8
Jan 2011	31.85	277.0
Feb 2011	31.92	281.2
Mar 2011	31.47	296.3
Apr 2011	31.77	311.6
May 2011	31.98	316.3
Jun 2011	32.28	305.5
Jul 2011	32.14	306.4
Aug 2011	31.91	307.8
Sep 2011	31.66	310.7
Oct 2011	31.50	307.2
Nov 2011	31.47	310.0
Dec 2011	31.27	302.0
Jan 2012	31.31	307.7
Feb 2012	31.24	317.8
Mar 2012	31.18	320.8
Apr 2012	31.58	320.8
May 2012	31.99	304.8
Jun 2012	32.03	292.6
Jul 2012	32.39	288.7
Aug 2012	32.29	311.8
Sep 2012	32.78	328.5
Oct 2012	32.92	333.9
Nov 2012	32.59	316.5
Dec 2012	33.15	307.7
Jan 2013	33.48	308.1
Feb 2013	34.55	330.8
Mar 2013	34.18	311.8
Apr 2013	34.65	296.4
May 2013	34.47	294.6
Jun 2013	34.51	299.7
Jul 2013	34.35	300.1
Aug 2013	34.81	304.7
Sep 2013	34.79	298.7
Oct 2013	35.14	296.8
Nov 2013	35.10	298.6
Dec 2013	35.02	304.6
Jan 2014	35.00	308.9
Feb 2014	35.12	307.1
Mar 2014	35.26	302.2
Apr 2014	35.05	307.3
May 2014	35.20	302.8
Jun 2014	35.41	303.6
Jul 2014	35.26	300.9
Aug 2014	35.49	295.8
Sep 2014	35.50	287.6
Oct 2014	35.81	278.3
Nov 2014	35.98	264.7
Dec 2014	36.33	239.3
Jan 2015	37.27	198.1
Feb 2015	36.32	206.3
Mar 2015	36.79	217.2
Apr 2015	36.87	211.3
May 2015	36.72	226.8
Jun 2015	37.00	232.9
Jul 2015	37.33	234.7
Aug 2015	37.30	227.5
Sep 2015	38.85	202.9
Oct 2015	37.66	200.5
Nov 2015	37.80	199.2
Dec 2015	38.37	191.4
Jan 2016	37.96	182.8
Feb 2016	38.42	163.1
Mar 2016	37.59	173.6
Apr 2016	38.76	182.9
May 2016	38.73	188.3
Jun 2016	38.68	197.8
Jul 2016	38.92	189.0
Aug 2016	39.05	187.3
Sep 2016	39.39	189.8
Oct 2016	39.26	197.9
Nov 2016	39.66	198.4
Dec 2016	39.58	208.3
Jan 2017	39.84	218.8
Feb 2017	39.79	212.6
Mar 2017	39.71	209.9
Apr 2017	39.54	209.2
May 2017	39.17	199.1
Jun 2017	40.32	197.4
Jul 2017	40.46	196.1
Aug 2017	40.64	207.0
Sep 2017	40.50	225.8
Oct 2017	40.11	217.9
Nov 2017	39.56	229.0
Dec 2017	38.94	230.2
Jan 2018	39.47	236.4
Feb 2018	39.69	238.6
Mar 2018	40.22	233.4
Apr 2018	40.83	237.1
May 2018	40.26	243.5
Jun 2018	39.54	247.1
Jul 2018	39.54	247.9
Aug 2018	39.84	249.1
Sep 2018	40.64	246.0
Oct 2018	41.85	252.2
Nov 2018	41.44	238.4
Dec 2018	41.03	224.6

Computer and electronic products

In 1990, average hourly earnings in computer and electronic products manufacturing were 4 percent below those of all durable goods industries combined. By 2018, they exceeded durable goods earnings by 11 percent and became the second-highest earning industry in durables behind transportation equipment. This growth in earnings is consistent with increased demand for technology across all areas of the economy.

Printing and paper manufacturing

In contrast to earnings growth in computer and electronic products, some of the weakest earnings growth between 1990 and 2018 occurred in printing and related support activities (1.9 percent annually) and paper and paper products (2.2 percent). In addition, employment in printing and paper has declined steadily since 1990. The job losses and weakness in earnings growth can be attributed to falling circulations and revenues of newspapers and other printed media with the advent and growing dominance of digital media.[13]

Apparel and textiles

Over the 1990–2018 period, hourly earnings in apparel, textile mills, and textile product mills have ranked the lowest among all of manufacturing’s component industries. Both the textile mills and textile product mills industries saw below-average earnings growth; and while apparel manufacturing earnings showed the strongest percentage growth among all manufacturing industries since January 1990, the level of hourly earnings for apparel workers joined those of textile product mill workers at the bottom of all manufacturing industry earnings.

Employment in each of the apparel and textile industries fell dramatically from January 1990 through the 2007–09 recession. Employment has leveled off in textile product mills since then, and employment losses in textile mills and apparel have decelerated through 2018. Apparel experienced the largest decrease in employment among all manufacturing component industries over the 1990–2018 period, falling by 91 percent. The substantial loss of jobs in apparel manufacturing over the period more than offset gains made in hourly earnings, with aggregate weekly payrolls of apparel workers in 2018 representing just 27 percent of 1990 pay levels.[14]

Rising competition from apparel imports has driven down both employment and the number of apparel manufacturers in the United States. Over the 2001–2018 period, the number of apparel manufacturers declined from more than 15,000 establishments to fewer than 7,000.[15] In addition, the trade deficit for apparel, footwear, and household goods doubled over the period, to $132 billion, and domestic output of apparel fell from $76 billion in 1999 to $27 billion in 2018.[16] (See figure 7.)

⁠

Figure 7. Annual value of apparel, footwear, and household goods for exports, imports, and gross domestic output, 1999 and 2018
Item	1999	2018
Exports	$10,423,000,000	$11,004,000,000
Imports	77,014,000,000	142,760,000,000
Gross domestic output	75,979,000,000	26,533,000,000

Summary

Although manufacturing industries held a reputation for stable, well-paying jobs for much of the 20th century, shifts within the industry in the last several decades have altered that picture considerably. Since 1990, trends in average hourly earnings across manufacturing industries have been disparate. While a few industries have shown strong earnings growth, many others have shown earnings increasing at a much slower rate than the overall private sector, with motor vehicles and parts demonstrating the most notable slowing. In fact, despite a long history of surpassing private sector earnings, average hourly earnings in durable goods have recently been eclipsed by the overall private sector average.

While employment and earnings in most industries within manufacturing are susceptible to changes in forces such as trade and the U.S. business cycle, others may be more directly affected by movements in other measures, such as the price of oil and the growing use of technology. Therefore, whether more recent improvements in employment and earnings in specific manufacturing industries endure over the long term may depend on a confluence of developments outside the control of manufacturers.

Suggested citation:

Katelynn Harris, and Michael D. McCall, "The relative weakness in earnings of production workers in manufacturing, 1990–2018," Monthly Labor Review, U.S. Bureau of Labor Statistics, December 2019, https://doi.org/10.21916/mlr.2019.27

Notes

¹ See, for example, Louis Uchitelle, “The wage that meant middle class,” The New York Times, April 20, 2008, https://www.nytimes.com/2008/04/20/weekinreview/20uchitelle.html.

² Throughout this article, “average hourly earnings” and “hourly earnings” are used interchangeably.

³ For more information on benefits, see the National Compensation Survey page on the U.S. Bureau of Labor Statistics (BLS) website at https://www.bls.gov/ncs/.

⁴ Unless otherwise indicated, employment, hours, and earnings data are from the BLS Current Employment Statistics (CES) survey. For more information, see the CES page of the BLS website at https://www.bls.gov/ces.

⁵ The CES data collection form for manufacturing defines production employees as workers engaging in assembling, fabricating, janitorial activities, maintenance or repair, materials handling, processing, product development, recordkeeping related to production, shipping or receiving, storage or warehousing, and trucking. For more information, see the CES data collection form at https://www.bls.gov/ces/idcf/formc_sp.pdf.

⁶ Production employees in manufacturing and production and nonsupervisory employees in other industries are referred to as “workers” or “employees,” and average hourly earnings, average weekly earnings, and average weekly hours discussed throughout this article pertain to production workers in manufacturing and production and nonsupervisory workers in other industries (including total private).

⁷ For more information, see Angela Clinton, “An average mystery in hours and earnings data entails a weighty explanation,” Beyond the Numbers, vol. 7, no. 9, June 2018, https://www.bls.gov/opub/btn/volume-7/mystery-in-average-of-hours-and-earnings.htm#ednref1.

⁸ Throughout this article, “average weekly earnings” and “weekly earnings” are used interchangeably.

⁹ Average weekly hours are based on hours paid during the reference period, which is the pay period that includes the 12th day of the month, including any paid leave.

¹⁰ See Kristin Dziczek, “Bob Fish memorial automotive and economic outlook luncheon,” 2011 Detroit 3—UAW labor contracts, Center for Automotive Research, January 19, 2012, https://www.chicagofed.org/forms/rss/~/media/1ca75a4a11c341fa877776a07e0cb501.ashx.

¹¹ See Jane Slaughter, “UAW agrees to givebacks at Ford,” Labor Notes, February 20, 2009, https://labornotes.org/2009/02/uaw-agrees-givebacks-ford.

¹² See Sean McAlinden, Kristin Dziczek, and Art Schwartz, “CAR breakfast briefing,” 2011 Detroit 3—UAW labor contracts, Center for Automotive Research, November 29, 2011, http://www.cargroup.org/wp-content/uploads/2017/02/2011-Detroit-3_UAW-Labor-Contract-Negotiations.pdf.

¹³ See Michael Barthel, “Despite subscription surges for largest U.S. newspapers, circulation and revenue fall for industry overall,” Fact Tank: News in the Numbers, June 1, 2017, https://www.pewresearch.org/fact-tank/2017/06/01/circulation-and-revenue-fall-for-newspaper-industry/.

¹⁴ Aggregate weekly payrolls are the product of employment and average weekly earnings.

¹⁵ The number of establishments is from the BLS Quarterly Census of Employment and Wages (QCEW); see the QCEW page on the BLS website at https://www.bls.gov/cew/.

¹⁶ For more information on the U.S. trade balance, see “U.S. international trade in goods and services, September 2019,” U.S. Bureau of Economic Analysis, https://www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services.