Compensation costs up in June
August 01, 2012
Compensation costs for private industry workers increased 1.8 percent over the 12-month period ending June 2012, compared to the 2.3-percent increase for the previous 12-month period.
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Wages and salaries for private industry workers increased 1.8 percent from June 2011 to June 2012. The increase for the 12-month period ending June 2011 was 1.7 percent. The increase in the cost of benefits was 1.9 percent for the 12-month period ending June 2012, down from the June 2011 increase of 4.0 percent.
Compensation costs for state and local government workers increased 1.6 percent for the 12-month period ending June 2012, essentially unchanged from the June 2011 increase of 1.7 percent.
Wages and salaries for state and local government workers increased 1.1 percent for the 12-month period ending June 2012. A year earlier the increase was 1.2 percent. Benefit costs for state and local government workers increased 2.7 percent from June 2011 to June 2012. In the prior 12 months, the increase was 3.0 percent.
These data are from the BLS Employment Cost Trends program. To learn more, see "Employment Cost Index — June 2012," (HTML) (PDF) news release USDL-12-1528. Compensation costs (also known as employment costs) include wages, salaries, and employer costs for employee benefits.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Compensation costs up in June on the Internet at http://www.bls.gov/opub/ted/2012/ted_20120801.htm (visited January 26, 2015).
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