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Compensation costs up 4.2 percent from March 2023 to March 2024

May 15, 2024

Compensation costs for civilian workers increased 4.2 percent for the 12-month period ending March 2024, compared with an increase of 4.8 percent for the year ending March 2023. Civilian workers include all private industry workers plus all state and local government workers. Total compensation costs are the sum of wages and salaries plus benefits costs.

 12-month percent change in employment costs for civilian workers, March 2014–March 2024
Year Total compensation Wages and salaries Total benefits

Mar 2014

1.8 1.6 2.1

Jun 2014

2.0 1.8 2.5

Sep 2014

2.2 2.1 2.4

Dec 2014

2.2 2.1 2.6

Mar 2015

2.6 2.6 2.7

Jun 2015

2.0 2.1 1.8

Sep 2015

2.0 2.1 1.8

Dec 2015

2.0 2.1 1.7

Mar 2016

1.9 2.0 1.7

Jun 2016

2.3 2.5 2.0

Sep 2016

2.3 2.4 2.3

Dec 2016

2.2 2.3 2.1

Mar 2017

2.4 2.5 2.2

Jun 2017

2.4 2.3 2.5

Sep 2017

2.5 2.5 2.4

Dec 2017

2.6 2.5 2.5

Mar 2018

2.7 2.7 2.6

Jun 2018

2.8 2.8 2.9

Sep 2018

2.8 2.9 2.6

Dec 2018

2.9 3.1 2.8

Mar 2019

2.8 2.9 2.6

Jun 2019

2.7 2.9 2.3

Sep 2019

2.8 2.9 2.3

Dec 2019

2.7 2.9 2.2

Mar 2020

2.8 3.1 2.1

Jun 2020

2.7 2.9 2.2

Sep 2020

2.4 2.5 2.3

Dec 2020

2.5 2.6 2.3

Mar 2021

2.6 2.7 2.5

Jun 2021

2.9 3.2 2.2

Sep 2021

3.7 4.2 2.5

Dec 2021

4.0 4.5 2.8

Mar 2022

4.5 4.7 4.1

Jun 2022

5.1 5.3 4.8

Sep 2022

5.0 5.1 4.9

Dec 2022

5.1 5.1 4.9

Mar 2023

4.8 5.0 4.5

Jun 2023

4.5 4.6 4.2

Sep 2023

4.3 4.6 4.1

Dec 2023

4.2 4.3 3.8

Mar 2024

4.2 4.4 3.7

Note: Data are not seasonally adjusted.

Wages and salaries were up 4.4 percent for the 12-month period ending in March 2024 after rising 5.0 percent over the year ending March 2023. Costs for benefits rose 3.7 percent in March 2024 following a 4.5-percent increase the year prior.

These data are from the Employment Cost Index program. To learn more, see "Employment Cost Index — March 2024." We also have more charts on the Employment Cost Index.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Compensation costs up 4.2 percent from March 2023 to March 2024 at https://www.bls.gov/opub/ted/2024/compensation-costs-up-4-2-percent-from-march-2023-to-march-2024.htm (visited May 20, 2024).

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