Compensation costs up 3.2 percent in private industry over the year
August 01, 2005
Compensation costs for private industry workers increased 3.2 percent for the year ended June 2005, compared with a 4.0-percent gain for June 2004.
[Chart data—TXT]
While increases in wages and salaries continued at a moderate pace, the sharp increases in benefit costs began to moderate. For private industry workers, wages and salaries rose 2.4 percent in the year ended June 2005; this was similar to the gain of 2.6-percent in June 2004. Benefit costs gained 4.9-percent for the period ended June 2005, slowing dramatically from an increase of 7.3-percent for the year ended June 2004.
These data are from the BLS Compensation Cost Trends program. For more information, see "Employment Cost Index – June 2005" (PDF) (TXT), news release USDL 05-1434.
OF INTEREST
Recent editions of Spotlight on Statistics
- Fatal Injuries to Foreign-Born Hispanic or Latino Workers
Explores the industries, occupations, and events related to these fatalities.
- For-Profit, Nonprofit, and Government Sector Jobs in 2022
Compares the labor force characteristics and experiences of workers in the for-profit, nonprofit, government, and self-employed sectors.
- Union Membership, Activity, and Compensation in 2022
Focuses on trends in union membership, work stoppages, and pay and benefits among union members.
- A Look at a Neat Industry: Distilleries
Examines trends in employment, establishments, wages, and consumer prices for distilleries.
- Healthcare Occupations: Characteristics of the Employed
Compares the demographic characteristics of workers in healthcare occupations.
United States Department of Labor
