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Article: EMPLOYER COSTS FOR EMPLOYEE COMPENSATION-DECEMBER 2007
- Article from:
- US Fed News Service, Including US State News
- Article date:
- March 12, 2008
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The U.S. Department of Labor's Bureau of Labor Statistics issued the following press release:
Employer costs for employee compensation for civilian workers averaged $28.11 per hour worked in December 2007, the U.S. Department of Labor's Bureau of Labor Statistics reported today. Wages and salaries, which averaged $19.62, accounted for 69.8 percent of these costs, while benefits, which averaged $8.49, accounted for the remaining 30.2 percent. (See table 1.) Employers averaged $2.23 or 7.9 percent of total compensation for legally required benefits for every hour worked in December 2007. Legally required benefits - which include Social Security, Medicare, federal and state unemployment ...