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’s Economic Research Service (ERS).
This would be an increase of $0.78 billion, or 1.8%, 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. — USDA ERS
