Below is the March 12, 2013 press release devoted to the 'Employer Costs for Employee Compensation' last survey that provides interesting data about the average cost of paid time off and other benefits.
Employer Costs for Employee Compensation news release text
FOR RELEASE 10:00 A.M. (EDT) TUESDAY, MARCH 12, 2013 USDL-13-0421 Technical information: (202) 691-6199 NCSinfo@bls.gov www.bls.gov/ect Media contact: (202) 691-5902 PressOffice@bls.gov EMPLOYER COSTS FOR EMPLOYEE COMPENSATION – DECEMBER 2012 Private industry employers spent an average of $28.89 per hour worked for total
employee compensation in December 2012, the U.S. Bureau of Labor Statistics
reported today. Wages and salaries averaged $20.32 per hour worked and accounted for 70.3 percent of these costs, while benefits averaged $8.57 and accounted for the remaining 29.7 percent. Total compensation costs for state and local government workers averaged $41.94 per hour worked in December 2012.
Total employer compensation costs for civilian workers, which include private industry and state and local government workers, averaged $30.84 per hour worked in December 2012. Employer Costs for Employee Compensation (ECEC), a product of the National Compensation Survey, measures employer costs for wages, salaries, and employee benefit for nonfarm private and state and local government workers. Paid leave costs in private industry Private industry employer costs for paid leave benefits in December 2012 averaged $1.98 per hour worked, or 6.9 percent of total compensation.
Paid leave benefit costs by major private industry group were highest for the information industry at $4.12 per hour, or 8.9 percent of total compensation.
Costs were lowest for the leisure and hospitality industry at 39 cents, or 3.1 percent of total compensation. (See chart 1 and table 6.) Included in this amount were employer costs for vacations, holidays, sick leave, and personal leave. Paid leave benefit costs are oftendirectly linked to wages; therefore, higher paid occupations or industries will
typically show higher estimates for this compensation component. Employer costs for paid leave were primarily from vacation, holiday, and sick leave benefits.
In December 2012, vacation costs averaged $1.03 per hour (3.6 percent of total
compensation) while holiday costs were 61 cents per hour (2.1 percent) and sick
leave costs were 25 cents per hour (0.9 percent). (See table 5.) Paid leave costs varied widely by full-time and part-time status and bargaining
Paid leave costs for all full-time workers in private industry were $2.52 per
hour worked (7.5 percent of total compensation), significantly higher than
part-time workers at just 42 cents (2.8 percent).
Paid leave costs for union workers were $2.82 per hour worked (7.1 percent of total compensation) versus $1.90 (6.8 percent) for nonunion workers.
(See chart 2, and table 5 and 12.) For information on paid leave provisions, see National Compensation Survey:
Employee Benefits in the United States, March 2012, at http://www.bls.gov/ncs/ebs/
benefits/2012/benefits.htm. Legally required benefits costs in private industry The average cost for legally required benefits was $2.37 per hour worked in private industry (8.2 percent of total compensation) in December 2012.
Social Security comprises the largest legally required benefit cost component at $1.36 per hour or 4.7 percent of total compensation. Legally required benefits such as Social Security and Medicare can be directly linked to wages; therefore, higher paid occupations or industries will typically show higher cost estimates for this compensation component. (See table 5.) Costs for other legally required benefits include workers’ compensation, which averaged 41 cents per hour worked (1.4 percent of total compensation); Medicare, which averaged 33 cents per hour worked (1.2 percent); state unemployment insurance, which averaged 23 cents per hour worked (0.8 percent); and federal unemployment insurance, which averaged 3 cents per hour worked (0.1 percent). (See table 5.) Employer costs for legally required benefits varied by major industry group. The average cost per hour worked for legally required benefits ranged from $3.45 for construction to $1.34 per hour for the leisure and hospitality industry. (See chart 1 and table 6.) Workers’ compensation employer costs for construction industry workers were significantly higher than other major industry groups, averaging $1.12 per hour worked in December 2012. (See table 6.) Legally required benefit costs also varied by full-time versus part-time status and bargaining unit status. Legally required benefit costs for full-time workers were $2.62 per hour worked versus $1.65 for part- time workers. Legally required benefit costs were $3.34 for union workers and $2.28 for nonunion workers. (See chart 2, and table 5 and 12.) Other benefit categories in private industry Private industry employer costs averaged $2.36 per hour worked for insurance benefits (life, health, and disability insurance), or 8.2 percent of total compensation. In addition to insurance, the other benefit categories were: retirement and savings (defined benefit and defined contribution), which averaged $1.04 per hour worked (3.6 percent); and supplemental pay (overtime and premium, shift differentials, and nonproduction bonuses), which averaged 82 cents per hour (2.8 percent). (See table A and table 5.) Table A. Relative importance of employer costs for employee compensation, December 2012 ______________________________
______________________________ ______________________________ __ Compensation Civilian Private State and local component workers industry government ______________________________ ______________________________ ______________________________ __ Wages and salaries 69.2% 70.3% 65.0% Benefits 30.8 29.7 35.0 Paid leave 7.0 6.9 7.4 Supplemental pay 2.4 2.8 0.8 Insurance 8.9 8.2 12.0 Health benefits 8.5 7.7 11.6 Retirement and savings 4.7 3.6 8.8 Defined benefit 2.9 1.5 8.0 Defined contribution 1.8 2.1 0.8 Legally required 7.8 8.2 6.1 ______________________________ ______________________________ ______________________________ __ _____________ The Employer Costs for Employee Compensation for March 2013 is scheduled to be released on Wednesday, June 12, 2013, at 10:00 a.m. (EDT). Employer Costs for Employee Compensation data on total compensation, wages and salaries, and benefits in private industry are produced annually for 15 metropolitan areas. Metropolitan area data will be included in the March 2013 news release on June 12, 2013. For further information about metropolitan area ECEC estimates see the September 2009 article: “BLS Introduces New Employer Costs for Employee Compensation Data for Private Industry Workers in 15 Metropolitan Areas,” at http://www.bls.gov/opub/cwc/ cm20090921ar01p1.htm. Supplemental tables with occupational, establishment size, and bargaining status series for detailed industries are available at http://www.bls.gov/ncs/ect/sp/ ecsuphst.pdf and http://www.bls.gov/ncs/ect/sp/ ecsuptc25.pdf. Relative standard errors for all cost estimates in the most recent news release and supplementary tables are available at ftp://ftp.bls.gov/pub/special. requests/ocwc/ect/ececrse.pdf and http://www.bls.gov/ncs/ect/sp/ ecsuprse.pdf. Historical ECEC data are available in three listings, all available at http://www.bls.gov/ect/#tables . The first historical listing covers data for the March reference periods from 1986 to 2001. These data use the Standard Industrial Classification (SIC) and Census of Population occupational classification systems.The second listing contains data for the March, June, September, and December reference periods from March 2002 to December 2003. These data are also based on the SIC and Census of Population occupational classification systems. The final listing includes data for March 2004 to the current reference period. These are based on the North American Industry Classification System (NAICS) and Standard Occupational Classification (SOC) systems. Information in this release will be made available to sensory impaired individuals upon request— Telephone: (202) 691-5200; Federal Relay Service: (800) 877-8339. BLS news releases, including the ECEC, are available through an e-mail subscription service at: www.bls.gov/bls/list.htm.
- Technical Note
- Table 1. Civilian workers, by major occupational and industry group
- Table 2. Civilian workers, by occupational and industry group
- Table 3. State and local government, by major occupational and industry group
- Table 4. State and local government, by occupational and industry group
- Table 5. Private industry, by major occupational group and bargaining status
- Table 6. Private industry, by major industry group
- Table 7. Private industry, by census region and division, and area
- Table 8. Private industry, by establishment employment size
- Table 9. Private industry, goods-producing and service-providing industries, by occupational group
- Table 10. Private industry, by industry group
- Table 11. Private industry, by occupational group and full-time and part-time status
- Table 12. Private industry, by industry group and full-time and part-time status
- Table 13. Private industry, by major industry group and establishment employment size and bargaining status
- Table 14. Private industry, health care and social assistance workers, by industry and occupational group
- HTML version of the entire news release