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Compensation Climbing Thanks to Surging Benefits Costs
Private employers are boosting their workers’ compensation at the fastest quarterly pace since before the recession. But the gain was driven disproportionately by benefits, a new Labor Department report showed Wednesday. U.S. firms in December spent an average of $29.63 per hour worked for total compensation including benefits, up 1.4% from three months earlier, the department said. Wages and salaries made up 70.1% of the total, while benefits accounted for the remaining 29.9%. The last time total compensation rose at least 1.4% was in the third quarter of 2006...Read More
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