Daily News

View All News

Benefits 30% of employee pay

March 13 2008

Employee compensation costs averaged $28.11 per hour worked in December, the U.S. Bureau of Labor Statistics reported Wednesday. Wages and salaries averaged $19.62 an hour for 69.8% of the costs, and benefits averaged $8.49 per hour for 30.2% of the costs.

The cost per hour for insurance benefits, including life, health, and disability, averaged $2.34 per hour, according to the BLS. Legally required benefits such as Social Security, Medicare, federal and state unemployment insurance, and workers' comp averaged $2.23 an hour. Paid leave benefits such as vacations, holidays, sick leave, and other leave averaged $1.96 an hour. Retirement and savings benefits averaged $1.24 and supplemental pay averaged 72 cents.

The BLS data covers nonfarm private workers and state and local government workers.

Comments

Add New Comment

Post comment

NOTE: Links will not be clickable.
Security text:*