Department of Labor Logo United States Department of Labor
Dot gov

The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

Https

The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Compensation costs in financial activities industry up 5.3 percent from March 2020 to March 2021

May 07, 2021

From March 2020 to March 2021, compensation costs for private industry workers increased 2.8 percent. For the year ended March 2020, the increase was 2.8 percent. 

12-month percent change in total compensation for private industry workers by industry, March 2011 to March 2021
Month All workers Construction Manufacturing Trade, transportation, and utilities Information Financial activities Professional and business services Education and health services Leisure and hospitality Other services, except public administration

Mar 2011

2.0% 0.6% 2.8% 1.9% 2.4% 2.8% 2.2% 1.6% 1.0% 2.1%

Jun 2011

2.3 1.2 3.3 2.1 2.3 3.0 2.8 1.6 1.1 1.6

Sep 2011

2.1 1.0 2.6 2.4 2.0 3.3 2.4 1.5 1.1 1.5

Dec 2011

2.2 1.6 2.8 2.4 2.3 2.5 2.2 1.6 1.0 2.1

Mar 2012

2.1 1.6 1.8 2.9 3.2 1.3 2.1 2.2 1.0 1.9

Jun 2012

1.8 1.4 1.2 2.5 3.7 1.6 1.6 2.2 1.2 2.1

Sep 2012

1.9 1.8 1.6 2.2 3.7 1.5 1.7 2.2 0.8 2.3

Dec 2012

1.8 1.6 1.6 2.0 3.9 1.5 1.9 2.1 1.1 1.8

Mar 2013

1.9 2.1 2.0 1.8 2.3 2.2 1.8 1.5 0.9 1.9

Jun 2013

1.9 2.1 2.0 1.9 1.9 2.1 1.9 1.6 0.8 2.5

Sep 2013

1.9 2.1 1.8 2.1 2.1 2.2 1.9 1.7 1.1 2.2

Dec 2013

2.0 2.0 1.8 2.7 0.8 2.6 1.6 1.9 0.9 2.9

Mar 2014

1.7 1.4 2.1 2.3 0.8 2.1 1.4 1.7 1.3 1.9

Jun 2014

2.0 1.3 2.1 2.5 4.6 2.1 2.0 1.8 1.1 1.3

Sep 2014

2.3 1.4 2.2 3.0 4.3 1.9 2.4 1.7 1.6 1.7

Dec 2014

2.3 1.8 2.4 2.6 5.6 1.8 2.5 1.7 1.7 0.6

Mar 2015

2.8 1.8 2.3 2.7 6.1 2.3 3.6 2.0 2.0 1.9

Jun 2015

1.9 2.1 2.5 2.4 -1.6 2.3 1.5 1.9 2.4 2.2

Sep 2015

1.9 2.1 2.3 2.4 -1.1 2.1 1.7 1.9 1.5 2.2

Dec 2015

1.9 2.2 2.5 2.0 -1.4 2.3 1.9 1.7 1.8 2.6

Mar 2016

1.8 2.3 2.4 2.8 -1.7 1.6 1.1 1.7 2.2 1.7

Jun 2016

2.4 2.5 2.3 3.0 1.8 1.9 2.5 1.9 2.6 1.9

Sep 2016

2.3 1.9 2.5 2.4 1.9 3.1 1.7 1.8 3.6 2.3

Dec 2016

2.2 1.9 2.2 2.8 2.2 2.9 1.2 1.9 3.3 2.6

Mar 2017

2.3 2.5 2.2 2.7 1.8 2.9 1.5 2.1 4.3 2.9

Jun 2017

2.4 2.2 2.1 2.4 2.7 3.1 1.8 2.1 3.9 2.7

Sep 2017

2.5 2.7 2.6 2.9 2.6 2.3 2.7 1.9 3.4 2.5

Dec 2017

2.6 2.4 2.7 3.0 2.4 2.0 3.0 2.0 3.6 2.4

Mar 2018

2.8 2.4 2.8 3.0 2.6 3.3 3.0 2.3 3.2 2.9

Jun 2018

2.9 3.0 2.9 3.1 4.5 3.2 2.7 2.2 3.1 2.9

Sep 2018

2.9 2.7 1.9 3.5 4.8 3.1 2.5 2.9 3.4 2.2

Dec 2018

3.0 2.8 2.1 3.4 4.6 3.3 2.5 2.8 4.1 2.8

Mar 2019

2.8 2.9 2.2 3.3 4.8 2.7 2.3 2.5 3.3 2.8

Jun 2019

2.6 2.7 2.3 3.1 1.0 2.2 2.7 2.6 3.6 3.1

Sep 2019

2.7 3.5 2.8 2.6 0.7 3.1 2.6 2.5 3.3 3.0

Dec 2019

2.7 3.5 2.8 2.9 1.0 3.0 2.6 2.3 3.2 3.1

Mar 2020

2.8 3.1 2.5 2.7 1.1 2.8 3.2 2.7 3.6 2.8

Jun 2020

2.7 3.3 2.5 2.9 2.7 3.1 2.5 1.9 3.6 2.3

Sep 2020

2.4 2.4 2.3 2.6 2.7 2.3 2.2 2.1 4.1 2.8

Dec 2020

2.6 2.4 2.4 3.1 3.1 2.3 2.7 2.2 3.4 2.2

Mar 2021

2.8 2.7 2.3 3.2 3.1 5.3 2.1 2.2 3.9 2.8

For the year ended March 2021, compensation cost increases ranged from 2.1 percent for professional and business services to 5.3 percent for financial activities. For the year ended March 2020, compensation costs for financial activities increased 2.8 percent, while compensation costs for professional business services increased 3.2 percent.

These data are from the Employment Cost Trends program. They are not seasonally adjusted and not adjusted for changes in consumer prices. To learn more, see “Employment Cost Index — March 2021.” Also, see more charts on the Employment Cost Index. Compensation costs include wages and salaries and benefits. Private industry workers exclude employees of state and local government.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Compensation costs in financial activities industry up 5.3 percent from March 2020 to March 2021 at https://www.bls.gov/opub/ted/2021/compensation-costs-in-financial-activities-industry-up-5-3-percent-from-march-2020-to-march-2021.htm (visited June 14, 2021).

OF INTEREST
spotlight

Recent editions of Spotlight on Statistics

triangle