The Real Price Tag of a U.S. Workforce: A Look at 15 Major Cities
If you run a business in America today, you’re navigating a tricky landscape. On the one hand, it’s hard to find enough workers. On the other hand, the cost of retaining existing workers is steadily increasing, putting pressure on everything from pricing to profits.
At the same time, there’s a noticeable trend of “reshoring”—companies bringing jobs back to the United States to strengthen their supply chains and avoid international instability.
While this shift promises greater reliability, it also comes with a significant price increase. Domestic labor is simply more expensive, and savvy business owners need to understand the full financial picture.
It’s not just about the salary you see on a offer letter. The true cost of an employee includes a whole host of benefits and legally required contributions. To shed light on this, researchers dived into data from the U.S. Bureau of Labor Statistics to break down the total cost of employing someone in America’s largest metropolitan areas.
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