Wednesday, March 11, 2015

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[IWS] BLS: EMPLOYER COSTS FOR EMPLOYEE COMPENSATION – DECEMBER 2014 [11 March 2015]

IWS Documented News Service

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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

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NOTE: Funding for this service ends on 31 March 2015. Postings will end on this date as well.

 

EMPLOYER COSTS FOR EMPLOYEE COMPENSATION – DECEMBER 2014 [11 March 2015]

http://www.bls.gov/news.release/ecec.nr0.htm

or

http://www.bls.gov/news.release/pdf/ecec.pdf

[full-text, 23 pages]

 

Private industry employers spent an average of $31.32 per hour worked for total employee

compensation in December 2014, the U.S. Bureau of Labor Statistics reported today. Wages and salaries

averaged $21.72 per hour worked and accounted for 69.4 percent of these costs, while benefits averaged

$9.60 and accounted for the remaining 30.6 percent. Total compensation costs for state and local

government workers averaged $43.95 per hour worked in December 2014. Total employer

compensation costs for civilian workers, which include private industry and state and local government

workers, averaged $33.13 per hour worked in December 2014.

 

Employer Costs for Employee Compensation (ECEC), 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.

 

Paid leave costs in private industry

 

Private industry employer costs for paid leave benefits averaged $2.16 per hour worked in December

2014.  Private industry costs for paid leave include vacation leave which averaged $1.13 per hour

worked, holiday leave which averaged 66 cents, sick leave which averaged 26 cents, and personal leave

which averaged 12 cents in December 2014.  Paid leave benefit costs are often directly linked to wages;

therefore, higher paid occupations or industries will typically show higher estimates for this

compensation component.

 

Private industry paid leave benefit costs were highest for management, professional, and related

occupations at $4.67 per hour worked, or 8.4 percent of total compensation, in December 2014. Costs

were lowest among service occupations at 56 cents, or 3.9 percent of total compensation. (See table 5.)

Included in this amount were employer costs for vacations, holidays, sick leave, and personal leave.

 

The average cost per hour worked for paid leave by major industry group ranged from $4.82 in

information to 41 cents in leisure and hospitality.  (See table 6.)

 

Paid leave costs varied widely by full-time and part-time status in private industry in December 2014.

Paid leave costs for full-time workers were $2.77 per hour worked versus 45 cents for part-time workers. 

(See chart 1 and table 12.)

 

For information on paid leave provisions, see National Compensation Survey: Employee Benefits in the

United States, March 2014, at www.bls.gov/ncs/ebs/benefits/2014/benefits.htm.

 

AND MUCH MORE...including TABLES....

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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.

 

 

 

 

 

 

 

 

 




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