Employer's Cost for Fringe Benefits for Hospitals, All Establishments, Employer Firms
This dataset tracks employer's cost for fringe benefits for hospitals, all establishments, employer firms over time.
Latest Value
123179.00
Year-over-Year Change
68.67%
Date Range
1/1/2005 - 1/1/2022
Summary
This economic trend measures the cost of fringe benefits for employers in the hospital industry. It is an important indicator for understanding labor costs and compensation trends in the healthcare sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Employer's Cost for Fringe Benefits for Hospitals, All Establishments, Employer Firms tracks the per-hour cost of non-wage compensation such as health insurance, retirement benefits, and paid leave provided by hospital employers. This metric is widely used by economists and policymakers to assess the overall labor landscape in the healthcare industry.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Employer Costs for Employee Compensation survey.
Historical Context
This trend provides context for healthcare workforce and compensation policies.
Key Facts
- Fringe benefits account for about 30% of total compensation in the hospital industry.
- The cost of fringe benefits has grown faster than wages in recent decades.
- Healthcare is a labor-intensive sector, making fringe benefit costs a key factor.
FAQs
Q: What does this economic trend measure?
A: This trend measures the per-hour cost of non-wage compensation such as health insurance, retirement benefits, and paid leave provided by hospital employers.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to assess the overall labor landscape and compensation trends in the healthcare industry.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Employer Costs for Employee Compensation survey.
Q: How is this trend used in economic policy?
A: This trend provides important context for healthcare workforce and compensation policies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a brief lag.
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Citation
U.S. Federal Reserve, Employer's Cost for Fringe Benefits for Hospitals, All Establishments, Employer Firms (EXPECFEF622ALLEST), retrieved from FRED.