Hourly compensation rises in 1998
March 10, 1999
Increases in hourly compensation—both standard and inflation-adjusted—were higher in 1998 than in 1997 in the business, nonfarm business, and manufacturing sectors of the U.S. economy. The real hourly compensation increase in nonfarm business (2.6 percent) was the largest since 1986, while the manufacturing rise (2.9 percent) was the largest since 1982.
Following three years of decline from 1993 to 1995, real hourly compensation in the business sector increased for the third consecutive year, up 2.7 percent in 1998. Business sector hourly compensation increased 4.3 percent in nominal terms, while consumer prices rose 1.6 percent.
Manufacturing sector real hourly compensation rose 2.9 percent in 1998. Real hourly compensation gains were 2.5 percent in durable goods, and 3.5 percent in nondurable goods.
These data are a product of the BLS Quarterly Labor Productivity program. Additional information is available from news release USDL 99-53, "Productivity and Costs: Revised Fourth-Quarter Measures and Annual Averages, 1998."
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Hourly compensation rises in 1998 on the Internet at https://www.bls.gov/opub/ted/1999/mar/wk2/art03.htm (visited April 28, 2017).
Recent editions of Spotlight on Statistics
STEM occupations: past, present, and future
A look at employment and wages in science, technology, engineering, and mathematics occupations.
Workplace injuries and illnesses and employer costs for workers’ compensation
Workplace injury and illness data and the costs to employers for workers’ compensation in natural resources, construction, and maintenance occupations.
A look at the future of the U.S. labor force to 2060
Projected long-term trends in the growth, size, and composition of the labor force.
Union membership in the United States
Historical trends in union membership among employed wage and salary workers; union membership by a variety of demographic characteristics.