Thats more than I made at a microchip plant in Photolithography.
Psh, I got paid nine an hour to inspect PCB assemblies. Many of our products were motherboards that would easily sell for over a thousand bucks, and had $200-$500 BGAs on board. I stayed there 6 months, which I think was fairly average for the company. I was "temp" though, they had a scam going where they would hire you as full time temporary and keep you that way for at least a year. The few that made it to full-time-permanent made a few bucks more... at least one machine operator had been there almost fifteen years was making about as many dollars per hour. And management was always moaning about how it's a competitive market and the whole plant might go under unless we, a nearly unbroken mass of marginally employable highschool dropouts and geriatrics, picked up the slack. I try not to think about how broken those people must be to settle for such a worthless employer for so long.
You other guys can argue all day about market segments, target demographics, and profit margins, but at the end of the day you still get what you pay for. If you pay just a hair over the legal minimum that is exactly what you will get out of your employees; if you pay almost enough to live on you will get back almost enough to get the job done; don't pretend to be shocked when it happens.
Whatever the compensation (pay + benefits), it always shows in the company's culture/atmosphere, employees' attitudes, turnover rates (and associated training costs), and employees' overall quality of work. It is a real feat when a company can succeed without allowing its employees to succeed.