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EMPLOYER COSTS FOR EMPLOYEE COMPENSATION-MARCH 2006 (Department of Labor)
Employer costs for employee compensation averaged $26.86 per hour worked in March 2006, the U.S. Department of Labor's Bureau of Labor Statistics reported today. Wages and salaries, which averaged $18.82, accounted for 70.1 percent of these costs, while benefits, which averaged $8.04, accounted for the remaining 29.9 percent. Employer Costs for Employee Compensation, based on the National Compensation Survey, measures employer costs for wages, salaries, and employee benefits for non-farm private and state and local government workers.
Costs for legally required benefits, including Social Security, Medicare, unemployment insurance, and workers' compensation, averaged $2.16 per hour (8.0 percent of total compensation). Employer costs for life, health, and disability insurance benefits averaged $2.18 (8.1 percent); paid leave benefits (vacations, holidays, sick leave, and other leave) averaged $1.88 (7.0 percent); and retirement and savings benefits averaged $1.15(4.3 percent) per hour worked.
Private industry
In March 2006, private industry employer compensation costs averaged $25.09 per hour worked. Wages and salaries averaged $17.73 per hour (70.7 percent), while benefits averaged $7.36 (29.3 percent). Employer costs for paid leave averaged $1.71 per hour worked (6.8 percent), supplemental pay averaged 73 cents (2.9 percent), insurance benefits averaged $1.85 (7.4 percent), retirement and savings averaged 91 cents (3.6 percent), and legally required benefits $2.15 (8.6 percent) per hour worked.
Employer Costs for Employee Compensation Summary
Technical Contact:
(202) 691-6199 ncsinfo@bls.gov
Media Contact:
(202) 691-5902
Internet address:
http://www.bls.gov/ncs/ect/home.htm
USDL: 06-1049
FOR RELEASE: 10:00 A.M. EDT
WEDNESDAY, JUNE 21, 2006
Description
Wages per Hour
Legally Required Insurance
Social Security
Medicare
Unemployment
Worker's Compensation
Other Insurance
Life
Health
Disability
Paid Leave
Vacation
Sick Leave
Holidays
Retirement
Total Cost:
Total HCM Cost:
Savings of: |
Cost
$20.00
$1.62
$1.62
$1.40
$0.86
$25.48
$24.00
$1.48 per hour
|
Percentage
8.0%
8.1%
7.0%
4.3%
27.4%
20.0%
7.4%
|
Technical information:
Household data:
(202) 691-6378
USDL 07-0340
http://www.bls.gov/cps/
Establishment data:
91-6555
Transmission of material in this release is embargoed until 8:30 A.M. (EST),
http://www.bls.gov/ces/
Media contact:
691-5902
Friday, March 9, 2007.
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