Average compensation $22.37 per hour in private industry in March
June 12, 2003
In March 2003, private industry employer compensation costs averaged $22.37 per hour worked.
Wages and salaries, which averaged $16.15 per hour, accounted for 72.2 percent of these costs, while benefits, which averaged $6.22, accounted for the remainder.
Legally required benefits, such as Social Security and unemployment insurance, were $1.89 per hour on average, representing the largest non-wage employer cost. Employer costs for insurance benefits averaged $1.52 per hour, paid leave benefits $1.47 per hour, retirement and savings benefits 67 cents per hour and supplemental pay benefits 64 cents per hour.
These data are from the BLS Compensation Cost Trends program. Additional information is available from "Employer Costs for Employee Compensation, March 2003" (PDF) (TXT), news release USDL 03-297.
Recent editions of Spotlight on Statistics
- Union Membership, Activity, and Compensation in 2022
Examines trends in union membership, work stoppages, and pay and benefits among union members.
- A Look at a Neat Industry: Distilleries
Examines trends in employment, establishments, wages, and consumer prices for distilleries.
- A Look at Projected Employment in Professional, Scientific, and Technical Services, 2021‒31
Examines projected employment growth for the 2021–31 decade for the sector and its detailed industries and top-employing occupations.
- Business Responses to the COVID-19 Pandemic
Looks at differences in private industry businesses' responses to COVID-19 across firm sizes.
- Inflation Experiences for Lower and Higher Income Households Presents consumer price indexes for the lowest and highest household incomes to examine how different spending patterns change measures of inflation.