According to the 2021 Ratchet+Wrench Industry Survey, 75 percent of responding shops have raised their labor rate in the last two years. While much of it can be influenced by location, where does the industry currently stand on both posted labor rate and effective labor rate?
Posted Labor Rate
Less than $100 - 29%
$100-$109 - 13%
$110-$119 - 16.7%
$120-129 - 16%
More than $130 - 25.3%
Effective Labor Rate
Less than 50% - 12.3%
50-59% - 18.1%
60-69% - 11.3%
70-79% - 18.3%
80-89% - 21.6%
90-100% - 18.4%
Have you raised your labor rate in the last 2 years?
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