Total compensation is a much better measure of employee's pay than hourly earnings.
If it were not for the consistent focus of the media and politicians on wages, it would be unnecessary to point out that employee compensation is a far superior indicator of employees' pay. Wages constitute the largest share of total compensation, but they do not tell a complete story by themselves. Insurance plans, pensions, bonus payments, unemployment insurance, workers' compensation and a variety of other benefits that comprise total employee compensation are highly valued by the employees who receive them. Most employees would likely demand a considerable pay increase in order to give up their health care plans and paid vacations. Providing these benefits makes up a large share of companies' labor costs.