Labor Income (Earnings) Composition
Hi: What does the reported IMPLAN Labor Income include? 1) employee wages (or earnings for self employed) 2) employee portion of fringe benefits 3) employer portion of fringe benefits I have assumed that it includes 1 and 2 above but excludes 3. Is that correct?
Hi Steven, Labor Income = Employee Compensation + Proprietor Income Employee Compensation in IMPLAN is the total payroll cost of the employee paid by the employer. This includes wage and salary, all benefits (health, retirement, etc) and employer-paid payroll taxes (social security, unemployment, etc). Proprietor Income consists of payments received by self-employed individuals and unincorporated business owners, and includes the capital consumption allowance.
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