So what percent of a manufactured goods retail unit price goes towards labor on average? Do you know?
It varies from industry to industry.....product to product, country to country.
Hourly compensation in the us manufacturing sector in 2012 was around 36 dollars per hour, (includes benefits)
We are far from the highest labor cost. Norway takes that prize with $63.36 per hour, followed closely by the Swiss.
This is the better way of comparison as various industries require different ratios to remain competitive so you look at it as a whole.
As far as being competitive, you can then compare the same industries against each other. But as you know, the US can no longer manufacture a wide array of goods because costs make it prohibitive due to cheaper competition, and that cheaper competition more often then not, is not entirely a labor issue. Electricity, fuel, transportation, insurance, medical care, and government mandates all have a direct and perhaps the primary affect on production costs..
You also should know that China is gradually losing that once vaunted labor cost advantage as their wages rise and they are now facing competition from countries like Vietnam.