Private industry employers spent an average of $8.57 per hour on employee benefits, or nearly 30 percent of total costs, including retirement plans, in December 2012.
The latest data from the U.S. Bureau of Labor Statistics shows that private employers spent about $29 per hour worked for total employee compensation in December. Wages and salaries averaged $20.32 per hour worked and accounted for 70.3 percent of these costs.
Total compensation costs for state and local government workers averaged $41.94 per hour worked and total employer compensation costs for civilian workers, which include private industry and state and local government workers, averaged $30.84 per hour worked in December.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
