Businesses that employ more people have higher incomes, but they also earn more and pay more in wages, according to a new study.
“It’s not as simple as saying you need more workers to keep up with demand, but there are certain things that can increase the supply of labor,” says Daniel Gross, who led the research for the US Department of Labor’s Bureau of Labor Statistics.
“You need to have more workers if you want to keep the economy going.”
The study looked at a sample of US employers, looking at the number of workers employed in each industry.
The research found that companies that hire more workers tend to earn more money.
The median pay for workers with jobs at the top tier of the US economy was $92,000, while the median pay at the bottom was $46,000.
That means the median wage for workers at the two highest tiers is $80,000 per year.
A small share of the overall income comes from salary and benefits, Gross said.
“There are people who are earning that money on their own, but their salaries are so low that they’re not making any additional money,” he said.
Gross also found that some employers pay more for health and dental care than other employers.
In a survey of 1,000 US employees, he found that the median compensation for health care workers was $42,500 per year, compared to $24,000 for non-health care workers.
Health care workers are typically paid about $7,000 less per year than non-care workers, but health care providers also have higher healthcare costs.
Gross says this could lead to an underpaying of the health care workforce.
“A health care worker can be paid more for the same amount of work, so there’s an overpay,” he says.
“So they may be paying higher wages to a health care provider than a non-medical care provider, which is a problem.”