According to the Thurday, June 7th, 10:00 A.M. release by the Bureau of Labor Statistics, “Employer costs for health insurance benefits were significantly higher for Union workers, averaging $4.95 per hour (12.9%), than for non union workers, averaging $1,92 (6.9%)”.
The bureau of labor statistics further reported that in goods producing industries, health insurance cost benefits were higher, at $3.0 per hour, (8.95 of total compensation), than in service producing industries, at $2.05 per hour (7.4% of total compensation). Employer health insurance cost by major industry, ranged from $3.89 in information, to .53% in leisure and hospitality.
Health insurance benefit costs increased, both in average hourly dollar amount and as a proportion, and a proportion of total compensation. Union benefits often cost employers a lot more money. Contracts signed between the union and company will include these health benefits and all related costs.
Small Business Loan Resources:
SBA Community Blog and Forum – Blog and Forums by the SBA, Small business administration. Questions can be asked and answers provided.
U.S. Department of Commerce – Helps american businesses become more innovative at home and competitive abroad.
U.S. Bureau of Economic Analysis – Provides statistics on consumer spending, corporate profits, travel and tourism and much more.
Entrepreneurworld – Resource for Entrepreneurs, including starting your own business, growing your business.
Bureau of Labor Statistics – Provides companies with up to date information on employment, demand, hiring, productivity and other information that may be useful to companies.
International Trade Administration – Creates jobs and economic growth by promotingU.S. companies abroad to governments in other countries.
More Small Business Loan resources:
Department of Labor – Provides information on many labor issues that can be useful to companies, such as insurance, regulation, wages, wage hours, compensation, safety and health
U.S. Patent and Trademark Office –U.S. office to file patents to protect a companies new or existing proprietary products.
U.S. Trade and Development Agency – Promotes U.S. Exports to Foreign Countries, please review if your company is interested in exporting goods to foreign countries.
CEO Refresher – A monthly newsletter on creative leadership ideas. Short articles, brief book reviews, models, management tools, quotations and commentary.
E-Network for CEOs – Online articles and much more for CEO’s
Public Radio Planet Money – All issues money related to the public.
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