Employer Costs for Employee Compensation News Release - 2023 Q04 Results — 2024-03-13

Employer costs for employee compensation for civilian workers averaged $45.42 per hour worked in December 2023, the U.S. Bureau of Labor Statistics reported today. Wages and salaries averaged $31.29, while benefit costs averaged $14.13. (See tables 1 and 2.) Total employer compensation costs for private industry workers averaged $43.11 per hour worked in December 2023. Wages and salaries averaged $30.33 per hour worked and accounted for 70.4 percent of employer costs, while benefit costs averaged $12.77 per hour worked and accounted for the remaining 29.6 percent. (See tables 1 and 4.) Total employer compensation costs for state and local government workers averaged $60.56 per hour worked in December 2023. Wages and salaries averaged $37.53 and accounted for 62.0 percent of employer costs, while benefit costs averaged $23.03 and accounted for 38.0 percent. (See tables 1 and 3.) Wage and salary costs for private industry workers in goods-producing industries averaged $30.31 per hour worked.