Compensation in private industry, March 2004
June 25, 2004
In March 2004, private industry employer compensation costs averaged $23.29 per hour worked. Wages and salaries averaged $16.64 per hour, while benefits averaged $6.65.
Within goods-producing industries, employer compensation costs averaged $27.19 per hour. For construction industry employees, compensation costs were $27.17 per hour ($19.02 in wages, and $8.15 in benefits). For manufacturing workers, compensation costs were $26.97 ($17.59 for wages, and $9.39 for benefits).
Compensation costs varied greatly in service-providing industries. They ranged from $10.39 in leisure and hospitality ($8.23 wages, $2.16 benefits), to $33.66 in the information industry ($23.73 wages, $9.94 benefits). The average total compensation cost for service-providing industries was $22.33.
These data are from the BLS Compensation Cost Trends program. See Employer Costs for Employee Compensation, March 2004 (PDF) (TXT), USDL 04-1105, to learn more. This is the first Employer Costs for Employee Compensation news release to contain estimates calculated using the North American Industry Classification System (NAICS). Note: the average compensation cost for goods-producing industries includes mining, which is not shown separately.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Compensation in private industry, March 2004 on the Internet at http://www.bls.gov/opub/ted/2004/jun/wk4/art05.htm (visited December 22, 2014).