Inflation-adjusted compensation costs rise 0.6 percent in private industry over the year

November 05, 2014

Compensation costs for private industry workers increased 2.3 percent from September 2013 to September 2014; both wages and salaries and employers’ costs for benefits increased 2.3 percent. After adjusting for inflation in consumer prices, compensation costs for private industry workers increased 0.6 percent over the year.

 

Inflation-adjusted Employment Cost Index for workers in private industry, not seasonally adjusted, March 2001 to September 2014
Month Total compensation Wages and salaries Benefits

Mar 2001

100.0 100.0 100.0

Jun 2001

100.0 100.0 99.9

Sep 2001

100.8 100.7 101.0

Dec 2001

102.5 102.4 102.7

Mar 2002

102.3 102.1 102.8

Jun 2002

102.7 102.5 103.5

Sep 2002

102.7 102.2 103.7

Dec 2002

103.2 102.7 104.7

Mar 2003

103.0 101.9 105.6

Jun 2003

104.1 103.0 107.3

Sep 2003

104.4 103.1 107.8

Dec 2003

105.4 103.9 109.3

Mar 2004

105.1 102.9 110.9

Jun 2004

104.8 102.4 111.4

Sep 2004

105.7 103.1 112.1

Dec 2004

105.9 103.2 112.9

Mar 2005

105.4 102.4 113.4

Jun 2005

105.5 102.4 113.6

Sep 2005

103.8 100.7 112.0

Dec 2005

105.4 102.2 113.5

Mar 2006

104.6 101.4 112.8

Jun 2006

103.9 100.8 112.0

Sep 2006

104.7 101.7 112.8

Dec 2006

106.0 102.9 114.2

Mar 2007

105.0 102.1 112.3

Jun 2007

104.4 101.5 111.8

Sep 2007

105.1 102.2 112.5

Dec 2007

105.0 102.1 112.4

Mar 2008

104.2 101.3 111.5

Jun 2008

102.4 99.7 109.3

Sep 2008

103.0 100.4 109.8

Dec 2008

107.5 104.7 114.4

Mar 2009

106.6 103.9 113.6

Jun 2009

105.4 102.8 112.3

Sep 2009

105.6 103.0 112.4

Dec 2009

105.9 103.3 112.5

Mar 2010

105.9 103.0 113.4

Jun 2010

106.2 103.4 113.8

Sep 2010

106.5 103.6 114.2

Dec 2010

106.4 103.5 114.1

Mar 2011

105.2 101.9 113.6

Jun 2011

105.0 101.4 114.2

Sep 2011

104.7 101.3 113.6

Dec 2011

105.7 102.1 114.6

Mar 2012

104.6 101.1 113.8

Jun 2012

105.2 101.6 114.5

Sep 2012

104.7 101.2 113.8

Dec 2012

105.8 102.2 115.0

Mar 2013

105.1 101.4 114.4

Jun 2013

105.3 101.7 114.6

Sep 2013

105.5 101.8 114.8

Dec 2013

106.3 102.8 115.6

Mar 2014

105.3 101.6 114.8

Jun 2014

105.3 101.6 115.0

Sep 2014

106.1 102.5 115.6

Inflation-adjusted compensation costs for workers in private industry were 1.1 percent higher in September 2014 than they were in December 2007, the start of the 2007–2009 recession. Inflation-adjusted wages and salaries were little different (up 0.3 percent) in September 2014 than in December 2007, while employers’ costs for benefits were 2.8 percent higher.

Compared with March 2001, compensation costs for private industry workers were 6.1 percent higher in September 2014 after adjusting for inflation. Inflation-adjusted wages and salaries were 2.5 percent higher, while employers’ costs for benefits were 15.6 percent higher.

These data are from the Employment Costs Trends program. For more information, see "Employment Cost Index — September 2014" (HTML) (PDF), news release USDL‑14‑2007. The Consumer Price Index for All Urban Consumers from the Consumer Price Index program is used to adjust compensation costs for inflation. More information about inflation-adjusted compensation costs is in Employment Cost Index Historical Listing—Volume IV (TXT) (PDF).

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Inflation-adjusted compensation costs rise 0.6 percent in private industry over the year on the Internet at https://www.bls.gov/opub/ted/2014/ted_20141105.htm (visited July 22, 2018).

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