Procedure for creating ECEC compensation to pay ratios for occupational groups, by state
| a | b | c | d | |
|---|---|---|---|---|
| Compensation component ratio | National (all workers) | Construction workers (nationally) | New England (all workers) | New England Construction workers |
| Pay (wages, salaries, supplemental pay, vacation, holiday, sick, personal) | 100.0% | 100.0% | 100.0% | 100.0% |
| Wages and salaries | 85.9% | 87.8% | 83.4% | 85.1% |
| Supplemental pay (e.g., overtime) | 4.9% | 6.2% | 6.7% | 8.6% |
| Paid leave (vacation, holiday, sick, personal) | 9.2% | 5.9% | 9.8% | 6.3% |
| Insurance benefits and retirement benefits | 13.2% | 15.3% | 14.2% | 16.5% |
| Legally required benefits (Social Security, Medicare, federal and state unemployment insurance, and Workers’ Compensation) | 9.0% | 11.0% | 8.5% | 10.5% |
| Total Compensation | 122.2% | 126.3% | 122.8% | 126.9% |
| = (b ÷ a) × c |
Notes: Pay is calculated as the sum of wages and salaries, supplemental pay, and paid leave; The components of pay are normalized, and forced to equal 100%, by dividing each by their sum. Total compensation is calculated as the wages and salaries, supplemental pay, paid leave, insurance and retirement benefits, and legally required benefits.
Source: EPI analysis Bureau of Labor Statistics' Employer Cost for Employee Compensation (ECEC) 2024Q2 data.