Average compensation $22.37 per hour in private industry in March
June 12, 2003
In March 2003, private industry employer compensation costs averaged $22.37 per hour worked.
Wages and salaries, which averaged $16.15 per hour, accounted for 72.2 percent of these costs, while benefits, which averaged $6.22, accounted for the remainder.
Legally required benefits, such as Social Security and unemployment insurance, were $1.89 per hour on average, representing the largest non-wage employer cost. Employer costs for insurance benefits averaged $1.52 per hour, paid leave benefits $1.47 per hour, retirement and savings benefits 67 cents per hour and supplemental pay benefits 64 cents per hour.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Average compensation $22.37 per hour in private industry in March on the Internet at http://www.bls.gov/opub/ted/2003/jun/wk2/art04.htm (visited February 01, 2015).
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