Heavy Lifting - thoughts and web finds by an economist
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Friday, March 12, 2010

How much can you earn in an hour?

How much do you have to earn for a company to hire you? This is a big question in the current environment:

 Private industry employers spent an average of $27.42 per hour worked for total employee compensation
in December 2009, the U.S. Bureau of Labor Statistics reported today. Wages and salaries averaged $19.41
per hour worked and accounted for 70.8 percent of these costs, while benefits averaged $8.00 and accounted
for the remaining 29.2 percent. Total compensation costs for state and local government workers averaged
$39.60 per hour worked in December 2009. Total employer compensation costs for civilian workers, which
include private industry and state and local government workers, averaged $29.37 per hour worked in
December 2009.

If you can't generate close to $30 an hour in revenue for a company then, on average, you won't be hired. If you can generate slightly more you still might not be hired because of uncertainty of future costs on the part of the firm owner.

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