Supervisor Production Prices (Q4 2021)
The Ministry of Labour and Employment changed the level of VDA for 1.5 million central sphere employees in the fourth quarter of 2021. The hike, which went into effect on October 1, resulted in a rise in the minimum wage for employees and core sector workers. Salary for skilled factory workers in New Delhi, India had been certified at 749 INR/day with effect from October 2021. Bihar's rate was fixed at 301 INR/day.
Wages in the European Union increased by 2.8 % year on year in the fourth quarter of 2021. In January 2022, the EU Member States' minimum wages ranged from 332 EUR/month in Bulgaria to 2257 EUR/month in Luxembourg.
Minimum wages in the United States increased in the last quarter of the year. Minimum-wage workers in the United States will receive an increase in 2022. In January 2022, 21 states and 35 cities around the United States implemented new minimum wage legislation. This was the largest simultaneous increase in subnational minimum wage regulation in US history, according to the National Employment Law Project. While the majority of states increased their minimum wages to ten or thirteen dollars an hour, California and New York established statewide minimum wages of fifteen dollars.
Minimum salaries varied significantly across the LATAM area. While basic goods and services were readily available to a Chilean worker earning the minimum wage, a Venezuelan worker earning the minimum wage would have needed 156 such incomes to purchase the most basic core diet items. Argentina's minimum wage was 31,938 Pesos in November 2021. The cost of basic food products increased by 2.6 % in November, suggesting that a household with two adults and two school-aged children would need 31,724 Pesos to keep above the poverty line, nearly a month's income.
Supervisor Production Prices (Q1-Q3 2021)
The National Floor Level Minimum Wage (NFLMW) in India remained constant at 178 INR/day for the majority of the first quarter of 2021, unchanged from 178 INR/day in 2020. However, conditions changed in the latter half of March 2021. At a time when the country was battling the second wave of the COVID-19 pandemic, the Government of India's Ministry of Labour and Employment released and modified the rate of Variable Dearness Allowance effective April 2021. The VDA is updated monthly using the Consumer Price Index for factory workers published by the Labor Bureau (CPI-IW). The most recent revision to the VDA was determined using the average CPI-IW for the months of July to December 2020. This benefited around 1.50 crore workers in various scheduled jobs across the country's central sector. Under this plan, highly trained industrial workers were entitled to a minimum of 853 INR per day, while unskilled workers received a minimum of 645 INR per day.
Following the 2020 expansion of COVID-19 to all EU Member States, agencies charged with setting the minimum wage faced a problem in deciding the new rates. Confronted with rising unemployment, acute economic uncertainty, and disruption of customary negotiation and consultation processes, the majority of European countries agreed to modest increases in their statutory minimum wages beginning in January 2021. In six Central and Eastern European countries, minimum wage rates had been increased by more than 5%. Among them were Latvia, Slovenia, Poland, Slovakia, Bulgaria, and Lithuania. Several long-standing member states, like Portugal, Luxembourg, the Netherlands, Germany, France, and Ireland, experienced a lesser increase.
Despite the severity of the disturbance to the US labour market caused by the coronavirus epidemic, employed workers' earnings remained relatively stable. In the United States, median pay grew during the COVID-19 recession, as lower-paid workers lost jobs. Earnings remained steady overall throughout the epidemic, in part because lower-wage earners lost more jobs. Thus, the average employed individual will earn more in 2021 than the average hired worker earned in 2019. In 2021, a fall in inflation benefited all workers by enhancing their salaries' buying power. Prior to the second coronavirus pandemic, the median hourly salary for employed Americans had stayed steady for several quarters at roughly 21 USD/hour.
Argentina reached a 2021 deal setting a progressive increase in wages, bringing it to 33,000 Pesos, a 52.7 % year-on-year increase in 2021. From May 1, 2021, the minimum monthly wage in Chile was 337,000 Pesos for individuals aged 18 to 65 and 251,394 Pesos for those aged 65 and beyond. On September 1, 2020, the minimum salary was 326,500 pesos, with an increase of 10,000 pesos in May 2021.
Supervisor Production Prices Overview (2020)
India has the lowest labour costs in Asia, with a national minimum daily wage of roughly INR 176 (USD 2.80) and a monthly minimum wage of approximately INR 4,576 (USD 62). This was a federal minimum wage that varied by geographic region and other variables. In a broader sense, a global analysis of typical monthly incomes indicated that India earned an average of INR 32,800 (USD 437) every month. The computation of the monthly min. salary includes a variable dearness allowance (VDA) component that accounts for inflationary trends such as the rise or decline in the Consumer Price Index (CPI), as well as, if available, a home rent allowance (HRA). The government engaged former inspectors as facilitators to conduct inspections to ensure that firms complied with the new wage law.
In June 2020, the majority of EU member states increased their statutory min. wages for 2020, often significantly, as Poland (17%), Slovakia (12%), and Czechia did (11%). In aggregate, all EU Member States increased their minimum tax rates from 2019 levels. Year-on-year price increases varied from 17% in Poland (EUR 523 to EUR 611) to 1.2% in France (EUR 1,521 to EUR 1,539), while Latvian prices stayed stable. The average gross min. wage in Portugal grew by 8.4% to EUR 740.2.
Between 2019 and 2020, salaries in the United States increased at an unprecedented rate, 6.9 % for the average worker, but not for positive reasons. In 2020, the US economy took a hit unlike any other in recent memory. Wages climbed significantly as a result of the fact that wage employees in the bottom 25% of the pay gap retained more than 80% of the 9.6 million net job losses in 2020. 7.9 million low-wage people exited the workforce, while 1.5 million jobs in the top half of the income distribution were added, skewing average pay upward. Wage inflation in 2020 was neither a reason for celebration nor a basis for injecting fears of economic overheating into policy deliberations. The majority of workers had a relatively weak bargaining position, which hampered their ability to obtain wage increases sufficient to compensate for decades of stagnant wages. As compared to other recent recessions, this pandemic-induced recession was particularly hard on low-wage workers, who continued to demand help. By 2020, fewer than 75% of low-income workers would be employed, compared to almost 90% of high-paid workers in the top 25% of the pay distribution. To summarise, salaries increased in 2020 as the low-wage labour market contracted.
Argentina's statutory monthly min. wage had been 16,875 Pesos (USD 229.4) per month, which corresponds to 84.37 Pesos (USD 1.15) per hour, from 1 October 2019. In April 2020, the federal minimum wage was adjusted for inflation and remained unchanged for the year at 1,045 Reais (USD 186) per month. In reality, just a few small local businesses adhered to the mandatory monthly min. wage. Large businesses and multinational corporations compensated employees over the federal minimum wage, either as a matter of public policy or to comply with the rules of the appropriate collective bargaining agreement. On 3 April 2020, the Chilean government also passed a measure granting a monthly subsidy of 300,000 Pesos to employees earning less than 384,363 Pesos per month in response to the covid-19 issue. Colombia's minimum monthly wage was 877,802 Colombian Pesos.
Procurement Resource provides latest wages of Supervisor Production. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Procurement Resource provides wages of Supervisor Production for several regions around the globe, which are as follows:
A Supervisor Production is integral to any manufacturing facility as he/she ensures a smooth functioning of the day-to-day production activities. Production Supervisors have job responsibilities, which include setting daily/weekly/monthly objectives and communicating them to employees. They organise workflow by assigning responsibilities to the employees. They oversee production operations and monitor employees to ensure that manufacturing process remains efficient and smooth. Also, they prepare work schedules and coach their employees.
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).