Hospital pay not what it used to be

Hospital pay levels have steadily dropped during the past decade and now match the average pay for all workers, according to the U.S. Bureau of Labor Statistics.

Information from the bureau shows that the cost increases to hospitals for wages and salary growth were 5.7 percent higher than they were in the fourth quarter of 2000. The cost of wages for all workers in the larger economy was 3.7 percent higher than in 2000.

Since then, hospitals and the larger economy have seen the cost of growth in wages, salary and total compensation decline steadily.

In the first three quarters of 2010, hospital wages grew about 1.6 percent above last year, while wages and salary costs for all workers increased 1.5 percent for the same period.

One Response to “Hospital pay not what it used to be”

1. Total Compensation Reports Says:
   November 6th, 2010 at 8:52 pm

   I wonder how many hospitals use total compensation reports when configuring employee total salaries?