BLS Finds Employer Comp Costs Remain Stable

March 10, 2010 (PLANSPONSOR.com) - Private industry employers spent an average of $27.42 per hour worked for total employee compensation in December 2009, the U.S. Bureau of Labor Statistics reported.

Wages and salaries averaged $19.41 per hour worked and accounted for 70.8% of these costs, while benefits averaged $8.00 and accounted for the remaining 29.2%. The proportions were little changed from June 2009 (see Retirement and Savings Benefits 4% of Employer Comp Costs).

Private industry employer costs for paid leave averaged $1.86 per hour worked (6.8% of total compensation), supplemental pay averaged 82 cents (3%), insurance benefits averaged $2.15 (7.8%), retirement and savings averaged 92 cents (3.4%), and legally required benefits averaged $2.25 (8.2%) per hour worked.

Total compensation costs for state and local government workers averaged $39.60 per hour worked in December 2009, and total employer compensation costs for civilian workers, which include private industry and state and local government workers, averaged $29.37 per hour worked, according to the BLS.

Civilian employer costs averaged $2.54 per hour worked for insurance benefits (life, health, and disability insurance), or 8.7% of total compensation. Paid leave (vacation, holiday, sick leave, and personal leave), averaged $2.04 (6.9% of total compensation); supplemental pay (overtime and premium, shift differentials, and nonproduction bonuses) averaged 74 cents per hour worked (2.5%); retirement and savings averaged $1.29 per hour (4.4%); and legally required benefits (Social Security, Medicare, unemployment insurance, and workers’ compensation) averaged $2.27 per hour worked (7.7%).

The BLS data is here.

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