Bureau of Labor Statistics Issues Employee-compensation Data
BOSTON — The New England Information Office of the U.S. Bureau of Labor Statistics has released regional data on employer costs for employee compensation (ECEC) for September. ECEC data are based on the National Compensation Survey, which measures employer costs for wages, salaries, and employee benefits. Among the highlights:
- Total compensation costs among private-industry employers in New England averaged $37.64 per hour worked in September. Wages and salaries accounted for 70.5% of total compensation costs (or $26.54 per hour), while benefits accounted for 29.5% of costs (or $11.10 per hour).
- Total benefit costs to employers within the New England division mainly comprised the following categories: insurance (including life, health, short- and long-term disability insurance), $2.99 per hour worked; legally required benefits (including Social Security and Medicare), $2.87 per hour; and paid leave (including vacation, holiday, sick, and personal leave), $2.73 per hour. Retirement and savings added another $1.48 per hour to the total benefits cost in New England.
- In the U.S., compensation costs among private-industry employers averaged $31.53 per hour worked in September. Wages and salaries, at $21.98 per hour, accounted for 69.7% of these costs, while benefits, at $9.55, made up the remaining 30.3%.