The March 2010 employee costs report was released today. The average wage is $20.67/hr. Benefits costs average $9.71/hr. This brings wages and benefits employer costs to a whopping total (sic) of $29.71/hr. Believe this or not, state and local government workers are the last holdouts in terms of getting good benefits.
Total employer compensation costs for private industry workers averaged $27.73 per hour worked in March 2010.
The latest Employment Cost Index (ECI), increase 0.4% for Q2, 2009. For the Year-to-Year we have a 1.8% increase, down from 3.2% for the previous year.
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