‘ In reaching a decision under this subsection, the arbitrator shall consider the following:
A. The interests and welfare of the public and the financial ability of the public employer to finance the cost items proposed by each party to the impasse;
B. A comparison of the wages, hours and working conditions of the employees involved in the arbitration proceeding with the wages, hours and working conditions of other employees performing similar services in public and private employment in other jurisdictions competing in the same labor market;
C. The overall compensation presently received by the employees including direct wage compensation, vacation, holidays and excused time, insurance and pensions, medical and hospitalization benefits, the continuity and stability of employment and all other benefits received;
D. Factors other than those specified in paragraphs A to C that are normally and traditionally taken into consideration in the determination of wages, hours and working conditions through voluntary collective bargaining, mediation, fact-finding, arbitration or otherwise between the parties, in public or private employment, including the average consumer price index;
E. The need of the public employer for qualified employees;
F. Conditions of employment in similar occupations outside public employment;
G. The need to maintain appropriate relationships between different occupations in public employment; and
H. The need to establish fair and reasonable conditions in relation to job qualifications and responsibilities.’