Report: Northeast had highest employee cost in June
The Northeast, which includes New England and the Mid-Atlantic states, had the highest total employee compensation cost in the country in June, at $38.35, according to the Bureau of Labor Statistics (BLS).
The figure includes wages and benefits. Wages and salaries accounted for two-thirds of the $38.35, while benefits accounted for a third.
For New England alone, the figure for June was $37.07 per hour worked, according to a statement Monday from the BLS’s New England Information Office of the BLS.
The average total compensation cost across the country in June was $31.39. The South had the lowest compensation cost, at $28.25 per hour worked.
Employer Costs for Employee Compensation (ECEC) data are based on the National Compensation Survey.
Highlights of the report include:
• Total compensation costs among private industry employers in New England averaged $37.07 per hour worked in June 2015. Wages and salaries accounted for 70.1 percent of total compensation costs (or $25.98 per hour), while benefits accounted for 29.9 percent of costs (or $11.08 per hour).
• Total benefits costs to employers within the New England division were comprised, primarily, of the following categories: insurance (which included life, health, short-, and long-term disability insurance) $2.97 per hour worked, legally required benefits (which included Social Security and Medicare) $2.88 per hour and paid leave (which included vacation, holiday, sick and personal leave categories) at $2.66 per hour. Retirement and savings added another $1.56 per hour to the total benefits cost in New England.
• In the United States, compensation costs among private industry employers averaged $31.39 per hour worked in June 2015. Wages and salaries, at $21.82 per hour, accounted for 69.5 percent of these costs, while benefits, at $9.56, made up the remaining 30.5 percent.
• Among the nine geographic divisions, private industry total compensation costs in June 2015 ranged from $24.37 per hour in the East South Central division to $38.81 in the Middle Atlantic division.
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