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Article: EMPLOYER COSTS FOR EMPLOYEE COMPENSATION-JUNE 2007

Article from:
US Fed News Service, Including US State News
Article date:
September 20, 2007
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The U.S. Department of Labor's Bureau of Labor Statistics issued the following press release:

Employers spent an average of $1.17 for employee retirement and savings plans for every hour worked in June 2007, the U.S. Department of Labor's Bureau of Labor Statistics reported today. This accounted for 4.2 percent of total compensation. Retirement and savings, which includes both defined benefit and defined contribution plans, is only one of several benefits included in the Employer Costs for Employee Compensation survey, along with wages and salaries. Total compensation (wages and salaries and benefits) averaged $27.75 per hour worked in June 2007. Wages and salaries, which averaged $19.38, ...

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