EMPLOYER COSTS FOR EMPLOYEE COMPENSATION - December 2022
Total employer compensation costs for civilian workers averaged $42.48 per hour worked inDecember 2022, the U.S. Bureau of Labor Statistics reported today. Wages and salaries cost employers $29.32 and accounted for 69.0 percent of total costs, while benefits cost $13.17 and accounted for the remaining 31.0 percent.
Total employer compensation costs for state and local government averaged $57.60 per hour worked. Wages and salaries averaged $35.69 per hour worked and represented 62.0 percent of total compensation costs, while benefit costs averaged $21.91 and accounted for the remaining 38.0 percent.
Total employer compensation costs for private industry workers averaged $40.23 per hour worked. Wage and salary costs averaged $28.37 and accounted for 70.5 percent of employer costs, while benefit costs were $11.86 and accounted for 29.5 percent.
Retirement and savings costs for private industry workers averaged $1.36 per hour worked in December 2022 and accounted for 3.4 percent of total compensation costs. Retirement and savings costs for state and local government workers averaged $7.48 per hour worked in December 2022 and accounted for 13.0 percent of total compensation costs. Defined benefit costs averaged $0.41 per hour worked for private industry workers and $6.98 per hour worked for state and local government workers. Defined contribution costs averaged $0.95 per hour worked for private industry workers and $0.51 per hour worked for state and local government workers.
Private industry retirement and savings costs
Among private industry supersectors, the leisure and hospitality industry had the lowest employer retirement and savings costs at $0.18 per hour worked. Among the benefit components within the leisure and hospitality industry, legally required benefits accounted for 9.5 percent of total compensation and had the highest employer costs at $1.74 per hour worked.
Retirement and savings costs for union workers averaged $4.62 per hour worked and accounted for 8.5 percent of total compensation costs. Retirement and savings costs for nonunion workers averaged $1.07 per hour worked and accounted for 2.7 percent of total compensation costs. Defined benefit costs averaged $2.98 per hour worked for union workers and $0.18 per hour worked for nonunion workers. Defined contribution costs averaged $1.64 per hour worked for union workers and $0.89 per hour worked for nonunion workers.
Retirement and savings costs for workers in establishments with 1-49 workers averaged $0.71 per hour worked and accounted for 2.2 percent of total compensation. Retirement and savings costs for workers in establishments with 500 workers or more averaged $2.84 per hour worked and accounted for 4.9 percent of total compensation.
Employer Costs for Employee Compensation for March 2023 is scheduled to be released onFriday, June 16, 2023, at 10:00 a.m. (ET)
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