Title: FREDBlog: Wages with Benefits (Reading Q&A)
Course: Kentucky Sample Personal Finance Curriculum > Section: Unit 1: Careers, Education & Income

Description: Compensation for labor includes both wages and benefits. The latter include the employer’s contribution to retirement pensions, health and life insurance, paid vacation and other leave, and any taxes the employer pays on these benefits. This FRED Blog post uses data from the U.S. Bureau of Labor Statistics to compare the evolution of compensation to wages. The reading also discusses the fact that compensation has grown much faster than wages due to the addition of benefits paid by employers. Estimated completion time: 5 minutes.