Wages and salaries, at an average of $19.56, accounted for 69.8% of total comp costs, while benefits accounted for the rest at an average $8.47, BLS data showed. Employers averaged $2.35 per hour worked in spending for life, health, and disability insurance, or 8.4% of total compensation.
In addition legally required benefits, including Social Security, Medicare, unemployment insurance, and workers’ compensation, cost an average $2.22; paid leave benefits averaged $1.95; retirement and savings averaged $1.22; and supplemental pay averaged $0.72 per hour.
Meanwhile, according to the BLS, state and local government employers spent an average of $13.24 per hour worked for benefits in September, compared to an average $7.66 at private firms.
State and local government employer costs for health benefits were higher ($4.35) than in the private industry ($1.85). Retirement and savings costs, which includes both defined benefit and defined contribution plans, were also higher for state and government employers ($3.04) than private employers ($0.92).
Among state and local government employees, average total compensation costs per hour were higher for management, professional, and related occupations ($48.35) than for service occupations ($30.74) and sales and office occupations ($27). Wages and salaries averaged $33.74 per hour worked for management, professional, and related occupations; $18.45 for service occupations; and $16.64 for sales and office occupations.
The full BLS September report is here .
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