The US Bureau of Labor Statistics (BLS) published the summary of employer costs for employee compensation for the month of March 2022.
The BLS notes that Employer costs for workers’ compensation for civilian workers averaged $40.90 per hour worked in the period noted.
According to the Bureau, wages and salaries cost employers $28.16 and represented 68.8% of total compensation, while benefits cost $12.74 and represented the remaining 31.2%.
Total compensation costs for civilian workers were $15.60 at the 10th wage percentile, $31.39 at the 50th wage percentile (median), and $78.58 at the 90th wage percentile.
On the other hand, Total employer compensation costs for private industry workers averaged $38.61 per hour worked in March 2022. Wage and salary costs averaged $27.19 and represented 70.4% of employer costs, while benefit costs were $11.42 and represented 29.6%.
Total compensation costs for private industry workers were $14.97 at the 10th wage percentile, $28.60 at the 50th wage percentile (median), and $74.46 at the 90th wage percentile.
In regards to the State and local government employer costs, these averaged $55.47 per hour worked in March 2022. Wages averaged $34.32 per hour worked and represented 61.9% of total compensation costs, while benefit costs averaged $21.15 and represented the remaining 38.1%.
Total compensation costs for state and local government workers were $24.05 at the 10th percentile of salary, $52.13 at the 50th percentile (median), and $93.14 at the 90th percentile of salary.
Total benefit costs consist of five main categories and include 18 benefit costs:
– paid leave: vacation, holiday, sickness and personal leave
– supplementary payment: overtime and bonuses, shift differentials and non-production bonuses
– Insurance: life, health, short-term and long-term disability
– Retirement and savings – defined benefit and defined contribution
– Legally required benefits – Social Security, Medicare, federal and state unemployment insurance, and Workers’ Insurance
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