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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Get Your Report Now!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