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AVERAGE HOURLY COMPENSATION COST

Statistics Directorate    
Definition:
Average hourly compensation cost is a wage measure intended to represent employers’ expenditure on the benefits granted to their employees as compensation for an hour of labour.

Context:
These benefits accrue to employees, either directly - in the form of total gross earnings – or indirectly - in terms of employers’ contributions to compulsory, contractual and private social security schemes, pension plans, casualty or life insurance schemes and benefit plans in respect of their employees. This latter group of benefits is commonly known as “non-wage benefits”. Its equivalent, employers’ expenditure, is termed “non-wage labour costs”.

Source Publication:
Key Indicators of the Labour Market (KILM): 2001-2002, International Labour Organisation, Geneva, 2002, page 601.

Cross References:
Compensation cost
Non-wage labour cost

Statistical Theme: Labour statistics

Created on Friday, August 09, 2002

Last updated on Friday, February 28, 2003