The cost of employment in each state
from Tipalti.com
How much does it cost to hire an employee in each state?
The biggest step for a small business is hiring the first employee as you’re making an investment in the future of your company, laying the groundwork for growth and increased productivity.
But hiring new people can be a daunting expense, with time and money spent on training as well as the many payroll taxes that have to be deducted from your business all adding up.
So, how much does it cost you to hire a new employee? We’ve taken a look at salaries, taxes, and benefits around the country to find the average cost of employing new workers in every state.
Hawaii is the 7th most expensive state in which to hire.
How much could employees be costing you in Hawaii?
HAWAII
$59,760 Salary
- $3,705 Social Security
- $867 Medicare
- $3,586 Federal Unemployment
- $299 Disability Insurance
- $1,422 State Unemployment
- $6,188 Health Insurance
- $1,793 Retirement Plan Contribution
$17,859 TOTAL (not including salary)
NOTE: Taking the top spot as the state with the highest unemployment contributions per employee is Hawaii at $1,422 annually. Despite not having the highest tax rate, Hawaii has the highest wage base allowing for bigger tax contributions from employers.
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PBN: Hawaii ranked 7th most expensive state for hiring new employees
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