Employment costs increase 4.4 percent over the year
January 26, 2001
Compensation costs in private industry rose 4.4 percent in the year ended December 2000, compared with increases of 3.4 percent in December 1999 and 3.5 percent in December 1998.
Wages and salaries rose 3.9 percent in private industry for the year ended December 2000, after increasing 3.5 percent in the year ended December 1999.
Benefit costs for private industry workers increased 5.6 percent for the year ended in December 2000, a significant increase from 3.4 percent in December 1999.
These data are from the BLS Employment Cost Trends program. Compensation costs (also known as employment costs) include wages, salaries, and employer costs for employee benefits. Learn more in "Employment Cost Index—December 2000," news release USDL 01-31.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Employment costs increase 4.4 percent over the year on the Internet at https://www.bls.gov/opub/ted/2001/jan/wk4/art05.htm (visited January 16, 2021).
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