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December 15, 2010
Benefits Nearly 30 Percent of Compensation Costs, BLS Reports

Benefits are nearly 30 percent of compensation costs for private industry employers, according to a BLS report, Employer Costs for Employee Compensation for September 2010. Legally required and insurance benefits were the largest benefit categories.

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On average, private industry employers pay $8.20 per hour worked for employee benefits. When combined with the average wage ($19.68), the average compensation cost is $27.88 per hour.

Here are highlights from the report:

Benefit Type Cost (per hour worked)
Legally required benefits
$2.31
Insurance plans
$2.24
Paid leave benefits
$1.88
Retirement and savings
$0.99
Supplemental pay
$0.78

In comparison, state and local government employers spend an average of $13.85 per hour worked on benefits, which is 34.5 % of their compensation costs. In addition, health benefit employer costs are higher for state and local government employers ($4.65) than private industry employers ($2.10).

For more details, view Composition of Compensation Costs for Private Industry Employers, September 2010.

Source:

BLS

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