Home > Term: labor rate
labor rate
The hourly rate that is paid to any workers for a specific task in the manufacturing process, such as setup, machine operation, or post-processing. The labor rate does not include any costs associated with material, equipment, or overhead. If the number of workers is not specified, the labor rate is the amount paid to all workers for an hour.
- Part of Speech: noun
- Industry/Domain: Manufacturing
- Category: Industrial manufacturing
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- Kevin.Li
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(Los Angeles - CA, United States)