Employer compensation costs in New England highest in country

New England employer costs for employee compensation in June 2013 averaged $34.81 per hour, the highest in the country, according to a U.S. Bureau of Labor Statistics report issued Thursday. More

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Employer compensation costs in New England highest in country

Employer compensation costs in June 2013 in the Northeast were the highest in country, averaging $33.50 per hour, or $4.39 higher than the national average of $29.11 per hour.
Posted 9/12/13

PROVIDENCE – New England employer costs for employee compensation in June 2013 averaged $34.81 per hour, the highest in the country, according to a U.S. Bureau of Labor Statistics report issued Thursday.

The national average of compensation costs in June was $29.11 per hour. Regionally, compensation costs in the Northeast – including data from New Jersey, New York and Pennsylvania, as well as New England – averaged $33.50 per hour.

Employer costs for employee compensations data are based on the National Compensation Survey, which measures employer costs for wages, salaries and employee benefits. Benefits include insurance costs, Social Security and Medicare, compensation, unemployment insurance and paid leave benefits.

In New England, wages and salaries accounted for 70 percent of total compensation costs, while benefits accounted for 30 percent, mirroring the national compensation cost breakdown.

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