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The US Department of Commerce, US Census Bureau, conducts economic surveys every five years. The 2022 Economic Census Data released the First Look Statistics in January 2024. The First Look Statistics are listed by three-digit NAICS code. These statistics were used to calculate industry average Labor Rate Load Factors (LRLF). These factors can be combined with a salary survey to perform Price Analysis on proposed labor rates in accordance with FAR.
LABOR RATE LOAD FACTORS Revised 2/21/2024 2022 NAICS code Year MANUFACTURING NAICS codes Number of firms LRLF 31-33 2022 All Manufacturing 240,786 4.8 325 2022 Chemical Manufacturing 10,739 10.2 326 2022 Plastics and rubber products 8,400 3.5 327 2022 Nonmetallic mineral products 9,050 3.7 331 2022 Primary metal manufacturing 2,614 4.5 332 2022 Fabricated metal products 49,297 3.1 333 2022 Machinery manufacturing 18,688 4.0 334 2022 Computer and electronic products 9,965 6.4 335 2022 Electrical equipment, appliances 4,502 5.4 336 2022 Transportation equipment 9,446 3.3 337 2022 Furniture and related products 13,780 2.7 339 2022 Miscellaneous manufacturing 24,495 4.8 2022 NAICS code Year SERVICES NAICS codes Number of firms LRLF 519 2022 Other information services 3,031 2.4 541 2022 Professional, Scientific and Technical 874,362 2.4 561 2022 Administrative and Support 360,837 1.9 562 2022 Waste management and remediation 21,816 3.9 611 2022 Educational Services 89,373 2.8 620 2022 Health Care & Social Assistance 695,080 2.4 710 2022 Arts, Entertainment & Recreation 146,029 2.9 722 2022 Food services and drinking places 700,589 3.0 811 2022 Repair and maintenance 202,850 3.2 The LRLF are calculated using the Economic Census data and include all indirect expenses, fringe benefits, overhead, G&A and profit. For Manufacturing NAICS codes, indirect expenses applied to direct material and subcontracts have been removed from the LRLF. For Service NAICS codes, other direct expenses have been removed from the LRLF. The salary survey direct wage rate can be multiplied by the LRLF to yield a fully burdened labor rate. |
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| 2022_labor_rate_load_factors.pdf |
