Raises Aren’t Yet On Their Way Back

The average employed American got a 1.5 percent raise last year, according to new data from the Bureau of Labor Statistics. This is smaller than the average raise last year of 2.2 percent.

At the same time (March 2009-March 2010), benefit costs increased 2.2 percent, higher than the 2.0 percent increase last year.

Does this mean that companies are offering their employees more and better benefits, or does it mean that benefit costs are simply rising with no regard to quality or quantity?

True fact: Though companies bemoan rising health care costs as something that will destroy a business, benefit costs still only account for 30 percent of total compensation costs. Wages make up the other 70 percent.

So stop whining.