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Employee compensation costs averaged $28.46 per hour worked in March, the U.S. Bureau of Labor Statistics reported today. Wages and salaries averaged $19.83 an hour for 69.7% of the costs, and benefits averaged $8.63 per hour for 30.3%.
The cost per hour for insurance benefits, including life, health and disability, averaged $2.40 per hour, according to the BLS. Legally required benefits such as Social Security, Medicare and workers' comp averaged $2.24 per hour. Paid leave benefits such as vacations, holidays and sick leave, averaged $2.00 per hour. Retirement and savings benefits averaged $1.26 per hour.
The BLS data covers nonfarm private workers and state and local government workers.