That is ABSOLUTLRY NOT TRUE. Labor is just one component in manufacturing, one of the smallest too.
“That is ABSOLUTLRY NOT TRUE. Labor is just one component in manufacturing, one of the smallest too.”
Exchange the word “labor” for ‘all expenses related to employing a worker’ and it is correct.
The term labor covers all the cost of employing a human worker.
Machines require no workmans comp insurance, no osha to protect their health, no wages or benefits, no SS or FICA matching funds, the list is endless for the cost of employing workers.