Friday, March 30, 2007
Tweet[IWS] BLS: EMPLOYER COSTS FOR EMPLOYEE COMPENSATION-DECEMBER 2006 [29 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
EMPLOYER COSTS FOR EMPLOYEE COMPENSATION-DECEMBER 2006 [29 March 2007]
http://www.bls.gov/news.release/ecec.nr0.htm
or
http://www.bls.gov/news.release/pdf/ecec.pdf
[full-text, 28 pages]
Employer costs for employee compensation averaged $27.54 per hour worked in December 2006, the
U.S. Department of Labor's Bureau of Labor Statistics reported today. Wages and salaries, which averaged
$19.24 per hour, accounted for 69.9 percent of these costs, while benefits, which averaged $8.30 per hour,
accounted for the remaining 30.1 percent. (See table 1.) Employer Costs for Employee Compensation, a
product of the National Compensation Survey, measures employer costs for wages, salaries, and employee
benefits for nonfarm private and state and local government workers.
Employer costs for insurance benefits life, health, and disability averaged $2.26 per hour (8.2 percent
of total compensation). Legally required benefits, including Social Security, Medicare, unemployment
insurance, and workers' compensation, averaged $2.20 per hour (8.0 percent of total compensation); paid leave
benefits (vacations, holidays, sick leave, and other leave) averaged $1.94 (7.0 percent); and retirement and
savings benefits averaged $1.21 (4.4 percent) per hour worked.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
EMPLOYER COSTS FOR EMPLOYEE COMPENSATION-DECEMBER 2006 [29 March 2007]
http://www.bls.gov/news.release/ecec.nr0.htm
or
http://www.bls.gov/news.release/pdf/ecec.pdf
[full-text, 28 pages]
Employer costs for employee compensation averaged $27.54 per hour worked in December 2006, the
U.S. Department of Labor's Bureau of Labor Statistics reported today. Wages and salaries, which averaged
$19.24 per hour, accounted for 69.9 percent of these costs, while benefits, which averaged $8.30 per hour,
accounted for the remaining 30.1 percent. (See table 1.) Employer Costs for Employee Compensation, a
product of the National Compensation Survey, measures employer costs for wages, salaries, and employee
benefits for nonfarm private and state and local government workers.
Employer costs for insurance benefits life, health, and disability averaged $2.26 per hour (8.2 percent
of total compensation). Legally required benefits, including Social Security, Medicare, unemployment
insurance, and workers' compensation, averaged $2.20 per hour (8.0 percent of total compensation); paid leave
benefits (vacations, holidays, sick leave, and other leave) averaged $1.94 (7.0 percent); and retirement and
savings benefits averaged $1.21 (4.4 percent) per hour worked.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 4:15 PM
