Compensation costs up 4.0 percent in private industry over the year

January 30, 2004

Compensation costs in private industry rose 4.0 percent in the year ended December 2003, a gain larger than the more modest increase of 3.2 percent in December 2002.

12-month percent changes in Employment Cost Index, private industry, December 1998 - December 2003
[Chart data—TXT]

The components of compensation continued to show significant differences. For private industry workers, wages and salaries rose 3.0 percent in the year ended December 2003, compared with a gain of 6.4 percent for benefits.

These data are from the BLS Compensation Cost Trends program. For more information, see "Employment Cost Index – December 2003" (PDF) (TXT), news release USDL 04-83.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Compensation costs up 4.0 percent in private industry over the year on the Internet at http://www.bls.gov/opub/ted/2004/jan/wk4/art05.htm (visited October 25, 2014).

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