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 August 29, 2016).

OF INTEREST

Recent editions of Spotlight on Statistics

  • A look at healthcare spending, employment, pay, benefits, and prices
    As one of the largest U.S. industries, healthcare is steadily growing to meet the needs of an increasing population with an increasing life expectancy. This Spotlight looks at how much people spend on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.

  • Employment and Wages in Healthcare Occupations
    Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.

  • Fifty years of looking at changes in peoples lives
    Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.