Skip to main content

BREAKING NEWS: Growth in Total Compensation Cost Kicks Up

To view this email as a webpage, click here.

                                                           
 
 
You’re just getting started.
Access compliance alerts, tools and more.
 
 
 
 
 
Alert
 
 
The amount that employers spent on total employee compensation grew at a faster rate in the third quarter of this year than in the second, according to new figures out today.

Employers spent 1.2 percent more on wages and benefits in September compared to June, according to the latest Employer Costs for Employee Compensation report from the U.S. Bureau of Labor Statistics (BLS). Comparatively, employers spent just 0.59 percent more on wages and benefits in June 2023 compared to March 2023.

Total employer compensation costs for private-industry workers averaged $41.53 per hour worked in September. Wages and salaries averaged $29.34 per hour worked and accounted for 70.6 percent of employer costs, while benefit costs averaged $12.19 per hour worked and accounted for the remaining 29.4 percent, according to the report.
 
 

Comments

Post a Comment

Archive

Show more

Popular posts from this blog

LAST CHANCE: FREE Tote, Pen & Surprise Gift with Membership

What are you waiting for? Join today and get full access to SHRM member benefits.   This is the last chance to get a FREE tote, pen, and surprise bonus gift when you join SHRM! A very, very long list of SHRM member benefits awaits you. Use promo code HRTOTE24 at checkout to claim your swag items.* Then use your membership to claim these benefits. READY, SET ... State & Local Compliance Updates Ask An Advisor Express Requests Forms and Checklists How-To Guides HR Q&As Sample Interview Questions Sample Job Descriptions HR Toolkits Interactive Tools Resource Hub Pages SHRM Research Reports HR Magazine 20% off SHRM Educational Products 20% off SHRM Events Networking on SHRMConnect ... and more!   JOIN TODAY   ...
Post a Comment
Read more

How to Become a Car Mechanic.

Click Here for ITI Mobile Website . Car mechanics specialise in the service and repair of vehicles. They work on the maintenance and repairing of all aspects of cars, by performing preventative and restorative work on the engine, electrics, gears, brakes, exhaust system, security features, fuel pump and air conditioning. Car mechanics will also carry out the routine servicing of vehicles, and providing advice for customers on the condition of their vehicles, and will carry out tests for mechanical faults. If a vehicle has a serious problem, then the driver will not only need the fault to be repaired, but will want the task to be performed correctly, and in a manner that prevents any future recurrences. Only an experienced and qualified car mechanic can provide this level of service. So, car mechanics have an important role to play in the repairing and checking of a large number of vehicles, in and industry with approx 31million cars on the road in the UK. Educat...
Read more

Last Chance: Don’t Miss Tomorrow’s AI Outlook 2024 Webinar!

Tomorrow is the big day! Ensure you're part of the conversation on AI in HR.   Final Reminder: Secure Your Spot for Tomorrow's Transformative Sessions     Dear Valued Professional, With SHRM's AI Outlook 2024 webinar tomorrow, April 30 , we're excited to share what's in store for you! Join us for an immersive exploration of AI's role in revolutionizing human resources. Here's what you can look forward to:     KEYNOTE PRESENTATION How AI Is Shaping the Future of HR : Join us for a groundbreaking fireside chat hosted by SHRM’s president and CEO, Johnny C. Taylor Jr., SHRM-SCP , alongside BambooHR’s head of artificial intelligence, Alan Whitaker , and head of human resou...
Post a Comment
Read more