Here is some interesting data.

Manufacturing wages have long been much higher than that available in retail and restaurant positions - we all know that.

But did you know what gap is shrinking rapidly?

"Pay for factory jobs has grown so slowly in the US that manufacturers are having trouble competing with fast food restaurants," the Wall Street Journal wrote this week.

As minimum wage changes and proactive moves by retailers and restaurants are pushing even fast food jobs to $15.00 or more per hour. Manufacturing pay, by contrast has not risen nearly as rapidly.

As shown in the graphic below, the premium of factory job pay versus retail and restaurant work continues to decline:

Source: Wall Street Journal

Hourly factory workers made on average $23.41 in April. That is 27% above the average pay for retail workers, according to the Bureau of Labor Statisticss. That is down from a 40% premium for factory workers a decade ago.

Factory workers make 56% more than restaurant work, but that is down from a much larger 83% ten years back.

With more job opening's than available workers, factories and stores are all competing for the same employees - and the wage convergence is sure proof of that.

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