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USDA RELEASES REPORT SHOWING AGRICULTURAL LABOR EXPENSES FOR PAST TWO DECADES
Sep. 12, 2023
Source: USDA news release
Total cash labor expenses for the U.S. agriculture sector are forecast to be $43.35 billion for 2023, based on the August 2023 forecast by USDA, Economic Research Service. This would be an increase of $0.78 billion, or 1.8 percent, over the 2022 level of $42.57 billion (in inflation-adjusted 2023 dollars).
The projected 2023 level would remain below the high set in 2017 in inflation-adjusted labor expenses. Labor expenses are an important component of agricultural production costs. For every $100 spent on production expenses, almost $10 goes toward labor.
Total labor expenses include contract and hired labor payments but exclude non-cash employee compensation.
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