Bureau of Labor Statistics

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 at https://www.bls.gov/opub/ted/2004/jan/wk4/art05.htm (visited June 24, 2021).

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