Labor price variance, or direct labor rate variance, measures the difference between the budgeted hourly rate and the actual rate you pay direct labor workers who directly manufacture your products.

CHICAGO, IL - JUNE 04: Employees work the counter at a McDonald's restaurant located inside the company's new corporate headquarters on June 4, 2018 in Chicago, Illinois. McDonald's headquarters ...

The 2025 Hotel Labor Costs & Trends report was released on HotelData.com by Actabl, revealing how U.S. hotels have tightened labor models throughout the year to offset rising wages, higher operating ...

In a recent webinar "Labor Forecasting 2.0: Predicting Future Demand and Staffing for Efficient Growth with AI," presented by Deputy and hosted by Networld Media Group, experts explored how AI-powered ...

Discover how to calculate productivity by comparing business outputs to inputs. Learn about methods and techniques to enhance ...

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Legion, the pioneer in AI-powered workforce management, today announced the launch of four new modules in the Legion WFM platform: Legion Labor Budgeting, Legion ...

The United States is undergoing a top-to-bottom transformation of its labor market. As recently as January, key indicators revealed a shrinking total unemployment rate, while certain industries are ...

The landscape of public works construction is an arena of intricate challenges. It demands a delicate calibration between economic efficiency, adherence to stringent schedules, and the unwavering ...

Following the COVID-19 pandemic, Korea’s unemployment rate has remained significantly lower than pre-pandemic levels. This paper examines the dynamics of unemployment through a framework of labor ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Amanda Bellucco-Chatham is an editor, writer ...