LABOR COSTS
Lower labor costs contribute to Virginia’s enviable positive business climate.
In addition, the unemployment tax burden is 37% lower than
the national average. Moreover, Virginia manufacturers have one of the lowest
average workers’ compensation costs in the country. At $2.09 per $100 of
payroll in January 2009, the Commonwealth ranks third lowest nationally and is 44%
lower than the U.S. average.
Virginia is the northernmost right-to-work state on the East Coast of the United States.
Competitive Labor Costs
Richmond/Petersburg
Metropolitan Area |
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| Position | Mean Hourly Salary |
Mean Annual Salary |
| Laborers and freight, stock, and material movers, handling | $12.49 |
$25,980 |
| Machinists | $19.38 |
$40,300 |
| Multiple machine tool setters, operators, and tenders, metal and plastic | $16.41 |
$34,140 |
| Inspectors, testers, sorters, samplers, and weighers | $16.76 |
$34,860 |
| Mechanical Engineer | $36.65 |
$76,240 |
| Source: Bureau of Labor Statistics, May 2009 | ||