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.

Employer costs per hour worked for employee compensation, private industry, March 2003
[Chart data—TXT]

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.

These data are from the BLS Compensation Cost Trends program. Additional information is available from "Employer Costs for Employee Compensation, March 2003" (PDF) (TXT), news release USDL 03-297.

SUGGESTED CITATION

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 November 29, 2014).

OF INTEREST

Three recent editions of Spotlight on Statistics