News Release

April 13th, 2009

FOR IMMEDIATE RELEASE

CONTACT:
Ken Carroll
(502) 352-2485 - Office

Kentucky Association Of Manufacturers Announces Availability Of Wage And Benefits Survey Report

Frankfort, KY - APRIL 13, 2009 - The results of the 2008 Kentucky Association of Manufacturers (KAM) Wage and Benefits Survey report were released today.

KAM has administered the wage and benefits survey since 1911. Jim LeMaster, KAM President and CEO, emphasized the importance of the survey results, saying, "Now, more than ever, it is vitally important that KAM helps manufacturers control costs, especially in the all important wage and benefits area. We must always ensure we are compensating our employees fairly and competitively with peer companies. If you pay more than market, it can unnecessarily cost you thousands of dollars. If you pay less than market, good, well-trained employees will leave your company and go elsewhere."

"Manufacturing jobs are highly desirable," said Shawn Herbig President of IQS Research. "Beyond the wages, these jobs frequently offer substantial benefits including vacation, health insurance, paid holidays, and annual bonuses."

One hundred forty-seven organizations participated in KAM's 2008 Wage & Benefit Survey, contributing wage information for more than 25,000 exempt and non-exempt employees. The survey was conducted by IQS Research of Louisville (www.iqsresearch.com), and information was collected and compiled during the period of September 2008 through February 2009.

The Kentucky manufacturing industry is, by more than a two-to-one margin, the number one contributor to the state gross product, producing $29 billion in goods and accounting for 19 percent of Kentucky's Gross Domestic Product. The industry employs about 248,000 workers. The survey findings are broken down by nine geographic regions and by state. Some of the statewide survey results are as follows:

Wage Information

  • The average wages for all job categories increased by 7.1%.
  • Statewide 28% of job codes increased wages from 2007 to 2008.
  • The average hourly wage for all manufacturing jobs is $23.21 or $48,277 per year (2080 hours).

Benefits Information

  • 63% of companies said the overall productivity of their organization's employees is good, and 19% said it is excellent, for a combined rating of 82%
  • Annual bonuses are provided at 40% of the responding companies.
  • The largest percentage of companies (11%) provides 11 paid holidays per year.
  • 41% of respondents plan to add between 1 and 19 employees in the coming year. 8% plan to add 20 to 49 new employees.

Organizations providing financial support for the 2008 Wage & Benefits Survey include the following:

  • Barren River Area Development District
  • Bowling Green Area Chamber of Commerce
  • South Central Kentucky Regional Partnership
  • Bluegrass Area Development District
  • Central Kentucky Job Centers
  • Greenebaum, Doll and McDonald
  • Toyota Motor Engineering & Manufacturing North America
  • McCoy Labs
  • Ashland
  • Republic Bank
  • Pomeroy
  • Connemara Group
  • Leadership Strategies Group
  • Anthem BC/BS
  • Orr Safety
  • My Career Network
  • Mason Security

Visit www.kamanufacturers.com for information on how to purchase a copy of the 2008 KAM Wage and Benefits Survey report.

About KAM

Established in 1911, the Kentucky Association of Manufacturers is the Commonwealth's only manufacturing trade association. KAM's mission is to raise the prosperity of all Kentuckians by protecting and growing our state's economic engine: manufacturing. KAM proactively works with elected officials, policymakers, chambers of commerce, other associations, economic development experts, the news media, the general public and its own members to drive results through eight branded initiatives: ProsperousKentuckysm, ProductiveKentuckysm, FreedomKentuckysm, SmartKentuckysm, HealthyKentuckysm, HonestKentuckysm, MarketKentuckysm and CleanKentuckysm. On the web at www.KAManufacturers.com