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Total Retail Compensation, Wages and Salaries
Tables/Charts:
Summary Points:
Total Annual Retail Wages, 2008–2010
Retail Compensation, Wages & Salaries vs. Benefits, 2011
Total Retail Compensation, Wages and Salaries per Full-Time Equivalent Employee, 2005–2010
Average Annual Total Compensation per Full-Time Equivalent Employee in Retail Trade, 2005-2010
Average Annual Total Compensation per Full-Time Equivalent Employee in Food Services and Drinking Places, 2005-2010
Summary Points:
- Retail and food service and drinking places total annual wages rose from around $521 billion in 2009 to $531 billion in 2010.
- Benefits boost the value of retail workers’ hourly wages by almost 25 percent.
- In other words, for every dollar paid to retail workers by employers, benefits such as vacation time, bonuses, and insurance, add almost $0.25.
- Legally required benefits, such as social security, Medicare, and unemployment insurance, account for around 37 percent of non-wage compensation.
- Total compensation for retail employees has steadily increased between 2005 and 2010.
- In 2010, the average retail employee saw a $859 increase in their annual wage & salary; while the average food service and drinking places employee saw a $1,020 increase in their annual wage & salary.
| Total Annual Retail Wages,* 2008-2010 (NAICS Definitions and Millions of Dollars) | |||
| 2008 | 2009 | 2010** | |
| Total Retail | $400,746 | $380,517 | $385,953 |
| Total Retail (Plus Food Service and Drinking Places) | 543,378 | 521,361 | 531,341 |
| Motor Vehicle & Parts Dealers | 73,679 | 64,899 | 67,698 |
| Furniture & Home Furnishings | 16,014 | 13,474 | 13,179 |
| Electronics & Appliances | 21,372 | 19,330 | 20,537 |
| Bldg. Mat'ls. & Garden Supply | 38,045 | 35,242 | 34,455 |
| Food & Beverage Stores | 62,706 | 62,508 | 62,682 |
| Health & Personal Care Stores | 33,122 | 33,535 | 34,024 |
| Gasoline Stations | 15,409 | 15,314 | 15,367 |
| Clothing & Clothing Accessories | 27,959 | 25,318 | 25,801 |
| Sprtng. Gds., Hbby., Bk. & Music | 11,880 | 11,448 | 11,327 |
| General Merchandise Stores | 62,703 | 63,371 | 63,874 |
| Department Stores | 30,617 | 30,083 | 30,444 |
| Misc. Store Retailers | 19,294 | 17,864 | 18,011 |
| Non-Store Retailers | 18,563 | 18,213 | 18,998 |
| Food Service and Drinking Places | 142,632 | 140,844 | 145,387 |
| * Includes wage payments to all retail trade employees. ** Data for 2010 wages are preliminary. Source: U.S. Department of Labor, Bureau of Labor Statistics. | |||
| Total Retail Compensation, Wages and Salaries per Full-Time Equivalent Employee,* 2005-2010 (NAICS Definitions and Dollars) | ||||||
| 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | |
| Retail | ||||||
| Total Compensation | $35,468 | $36,269 | $36,995 | $37,322 | $37,575 | $38,572 |
| Wages & Salaries | 29,230 | 30,045 | 30,730 | 30,911 | 31,177 | 32,036 |
| Food Service & Drinking Places | ||||||
| Total Compensation | 22,489 | 22,786 | 24,018 | 24,589 | 24,910 | 26,003 |
| Wages & Salaries | 18,991 | 19,647 | 20,649 | 21,230 | 21,519 | 22,539 |
| * The number of "Full-time Equivalent Employees" is the product of the number of all retail employees (full- and part-time) and the ratio of the average weekly hours of all retail employees to the average weekly hours for full-time employees. Total compensation includes wages and salaries plus employer payments to pension and profit-sharing plans, retirement plans, health and life insurance, and social security. Wages and salaries consists of monetary remuneration of employees, including commissions, tips and bonuses; voluntary employee contributions to certain deferred compensation plans (401(k) plans); and employee gains from exercising nonqualified stock options. Source: Derived from U.S. Department of Commerce, Bureau of Economic Analysis data. | ||||||
 | Retail Industry Indicators 2009 © NRF Foundation www.nrffoundation.com |
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