Which of the following best describes the labor burden percentage often observed?

The labor burden percentage refers to the additional costs incurred by an employer beyond just the wages paid to employees. This percentage typically includes costs such as payroll taxes, workers' compensation insurance, unemployment insurance, and benefits like health insurance and retirement contributions.

The range of 15 to 30 percent accurately reflects this additional financial responsibility that employers face. Businesses must account for these costs when calculating project expenses, bidding on jobs, or managing labor.

A labor burden percentage in this range helps contractors prepare accurately for project budgets and is consistent with industry standards observed across various sectors. This understanding is vital for contractors to ensure they remain profitable while being competitive in their bids. It enables effective cost management and financial planning, thereby contributing to the sustainability and success of their business endeavors.