America’s labor market has created 372,000 new jobs in June 2022, despite fears of a recession. But what does this mean for new employees in Maryland?
Tipalti has taken a look at salaries, taxes, and benefits around the country to break down the average cost of employing new workers in every state: https://tipalti.com/cost-of-employment/
So, how much would it cost you to hire a new employee in Maryland?
America’s top 10 most expensive states to hire new employees:
According to the research:
The state of Maryland is the tenth most expensive state in America to hire a new employee, costing employers $16,942 per year. Of this, the highest chunk of $5,749 goes towards health insurance, while the second highest portion, $4,086, goes towards social security.
Tipalti’s employee cost calculator is a useful tool to see the average cost of an employee in your state. See the calculator here.
