Nationwide, employer costs for employee compensation — wages, salaries, benefits and required payments — averaged $31.20 per hour worked during March for full-time workers in private industry.
The Bureau of Labor Statistics reported that of the total, wages and salaries accounted for $21.72 (70 percent); insurance, $2.58 (8 percent); legally required benefits such as employer taxes and workers’ compensation, $2.48 (8 percent); paid leave, $2.30 (7 percent); retirement and savings, $1.18 (4 percent); and supplemental pay, $0.94 (3 percent).
Compensation averaged slightly more, $31.62, for those in the construction industry, said Ken Simonson, chief economist for the Associated General Contractors of America.
Among construction-related workers employees, wages and salaries averaged $21.78 (69 percent); insurance, $2.38 (8 percent); legally required benefits, $3.52 (11 percent, reflecting much higher workers’ compensation than in all industry); paid leave, $1.17 (4 percent); retirement and savings, $1.67 (5 percent); and supplemental pay, $1.11 (4 percent).
Simonson estimated that Colorado Springs currently employs about 15,000 workers in the construction, engineering and related industry sectors.