Private-industry compensation averages $22.14 per hour in December
March 20, 2003
In December 2002, employer costs for employee compensation in private industry averaged $22.14 per hour worked.
Wages and salaries, which averaged $16.08, accounted for 72.6 percent of these costs, while benefits, which averaged $6.07, accounted for the remainder.
Legally required benefits, such as Social Security and unemployment insurance, were $1.85 per hour on average, representing the largest non-wage employer cost. Employer costs for paid leave benefits averaged $1.47 per hour, insurance benefits $1.46 per hour, and retirement and savings benefits 64 cents per hour.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Private-industry compensation averages $22.14 per hour in December on the Internet at http://www.bls.gov/opub/ted/2003/mar/wk3/art04.htm (visited December 22, 2014).