A scheduler is adapted to schedule packets or other data blocks for transmission from a plurality of transmission elements in timeslots in a communication system. The scheduler determines scaled capacity measures for respective ones of the transmission elements, with each of the scaled capacity measures being scaled by a combination of a waiting time and an occupancy for a corresponding one of the transmission elements. The scheduler selects one or more of the transmission elements for scheduling in a given one of the timeslots based on the scaled capacity measures. The scheduler in an illustrative embodiment may be implemented in a network processor integrated circuit or other processing device of the communication system.