While I -- like most of the United States -- is taking the day off today, we should all take a moment to give thanks to labor. Whether it's the low-cost, off-shore type or the UAW $75 / hour (total loaded cost) variety, we should all appreciate what is usually one of the largest cost elements that factors into what we source. In fact, for global sourcing, local labor cost is usually the determining factor in deciding where and what to source offshore. Labor is also a key for your own organization. In fact, if you look at Hackett benchmarking data, it becomes clear that world class procurement organizations spend far more for top level talent -- while off-shoring or eliminating low-level positions -- than typical companies. So take a minute and raise your last Pimms of the season to appreciating and better understanding labor (as an aside, please use real lemonade and sparkling mineral water, not lemon-lime soda). And after that drink, why not curl up with some recommend labor day reading as well (which is even more relevant given the current crisis in the debt markets).