Employment cost index up 0.8% in Q3

Register now

Compensation costs for civilian workers increased 0.8%, seasonally adjusted, for the three-month period ending in September, the Bureau of Labor Statistics reported Wednesday.

Wages and salaries, which make up about 70% of compensation costs) increased 0.9% while benefit costs, which make up the remaining 30% of compensation, increased 0.4%.
Compensation costs for civilian workers increased 2.8% for the 12-month period ending in September compared with a compensation costs increase of 2.5% in September 2017. Wages and salaries increased 2.9% for the 12-month period ending in September and increased 2.5% for the 12-month period ending in September 2017. Benefit costs increased 2.6% for the 12-month period ending in September; in September 2017, the increase was 2.4%.

For private industry workers, compensation costs increased 2.9% over the year and increased 2.5% in September 2017. Wages and salaries increased 3.1% for the 12-month period ending in September 2018 and increased 2.6% in September 2017. The cost of benefits rose 2.5% for the 12-month period ending in September 2018 and increased 2.4% in September 2017.

Employer costs for health benefits increased 1.9% for the 12-month period ending in September 2018.

For state and local government workers, compensation costs increased 2.5% for the 12-month period ending in September 2018. In September 2017, the increase was 2.4%. Wages and salaries increased 2.3% for the 12-month period ending in September 2018, compared with 2.0% a year ago. Benefit costs increased 3.1% for the 12-month period ending in September 2018. The prior year increase was 3.0%.

For reprint and licensing requests for this article, click here.
Economic indicators
MORE FROM BOND BUYER