Wages and salaries

What is Wages and salaries?

Wages and salaries meaning in Labor terms is Hourly straight-time wage rate or, for workers not paid on an hourly basis, straight-time earnings divided by the corresponding hours. Straight-time wage and salary rates are total earnings before payroll deductions, excluding premium pay for overtime and for work on weekends and holidays, shift differentials, and nonproduction bonuses such as lump-sum payments provided in lieu of wage increases. (See Earnings.)

 

reference: Glossary: U.S. Bureau of Labor Statistics – United States Department of Labor

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