April 18, 2014

Labor stats reveal average compensation

Employer costs for employee compensation in private industry among the four regions of the country ranged from $26.67 per hour in the South to $33.40 in the northeast during September 2013, the U.S. Bureau of Labor Statistics reported today.
Employer costs for employee compensation in the other two regions were $28.02 in the Midwest and $30.82 in the West. Overall, compensation costs among private industry employers in the United States averaged $29.23 per hour worked in September 2013. Wages and salaries, at $20.55 per hour, accounted for 70.3 percent of these costs, while benefits, at $8.68, made up the remaining 29.7 percent.
In addition to regional estimates, employer costs for nine geographic divisions are also available. Within divisions, total compensation costs ranged from $24.89 per hour in the East South Central division to $34.48 in the New England division. In the West North Central division, which includes Kansas and Missouri, total compensation costs averaged $27.39 per hour.
Wages and salaries, at $19.42, accounted for 70.9 percent of these costs, while benefits, at $7.96, made up the remaining 29.1 percent. In the Mountain division, which includes Colorado, Montana, Utah, and Wyoming, total compensation costs averaged $28.22 per hour. Wages and salaries, at $20.13, accounted for 71.4 percent of these costs, while benefits, at $8.08, made up the remaining 28.6 percent.

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