business
Hospitals spending more on staff salaries, benefits
NEWS IN BRIEF — Posted Sept. 20, 2010
The amount of money hospitals spent to provide wages and benefits to employees increased in June and remains higher than the money paid to workers in the wider economy, according to a report issued Sept. 8 by the Bureau of Labor Statistics.
Private-sector hospitals spent an average of $36.37 an hour for employee compensation in June but $36.26 in March. The growth was driven by increases in wages that grew to an average of $24.73 an hour from $24.62.
About 70% of employee compensation is usually made up of wages, while the remainder comes from benefits such as health insurance, paid vacation and retirement plans.
This is counter to trends in other jobs. Employers spent an average of $27.64 an hour for employee compensation in June but $27.73 in March. This went down because money paid out in wages declined.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2010/09/20/bibf0920.htm.
