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The law requires employers to publicly disclose job salary ranges. [6] Massachusetts enacted a pay transparency law in July, 2024, which applies to businesses with more than 24 employees, with data reporting for businesses with 100 or more employees. [7]
Wages adjusted for inflation in the US from 1964 to 2004 Unemployment compared to wages. Wage data (e.g. median wages) for different occupations in the US can be found from the US Department of Labor Bureau of Labor Statistics, [5] broken down into subgroups (e.g. marketing managers, financial managers, etc.) [6] by state, [7] metropolitan areas, [8] and gender.
In August 2023, the BLS announced it would stop collecting data on workers' compensation, which provides medical care and wage replacement in exchange for the employee's right to sue their employer for negligence. While this benefit is required by most states, workers' compensation only costs employers an average of $0.46 per hour of an ...
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Compensation of employees (CE) is a statistical term used in national accounts, balance of payments statistics and sometimes in corporate accounts as well. It refers basically to the total gross (pre-tax) wages paid by employers to employees for work done in an accounting period, such as a quarter or a year.
While it constitutes the main component of pay, additional benefits and incentives contribute to an employee's total compensation package. [5] The Variable pay – a non-fixed monetary reward paid by an employer to an employee. Variable pay is a flexible and performance-based part of total compensation that can greatly influence employee ...
In the case an employee is subject to both federal and state minimum wage acts, the employee is entitled to the higher standard of compensation. For tipped employees, the employer is only required to compensate the employee $2.13 an hour as long as the fixed wage and the tips add up to be at or above the federal minimum wage.
Because some payroll compensation may be subject to federal and state income tax withholding in addition to Social Security tax withholding and Medicare tax withholding, the Social Security and Medicare taxes often account for only a portion of the total an employee pays. The employer is also liable for 6.2% Social Security and 1.45% Medicare ...