Research >> Economics
Employment Cost Index up 0.6% in 2Q2019
|
Compensation costs for civilian workers increased 0.6 percent, seasonally adjusted, for the 3-month period ending in June 2019, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.7 percent and benefit costs increased 0.5 percent from March 2019.
Civilian Workers
Compensation costs for civilian workers increased 2.7 percent for the 12-month period ending in June 2019 compared with an increase of 2.8 percent in June 2018. Wages and salaries increased 2.9 percent for the 12-month period ending in June 2019 and increased 2.8 percent for the 12-month period ending in June 2018. Benefit costs increased 2.3 percent for the 12-month period ending in June 2019. In June 2018, the increase was 2.9 percent.
Private Industry Workers
Compensation costs for private industry workers increased 2.6 percent over the year, compared with a compensation cost increase of 2.9 percent in June 2018. Wages and salaries increased 3.0 percent for the 12-month period ending in June 2019 and increased 2.9 percent in June 2018. The cost of benefits rose 1.8 percent for the 12-month period ending in June 2019 and increased 2.8 percent in June 2018.
Employer costs for health benefits increased 2.3 percent for the 12-month period ending in June 2019.
Among private industry occupational groups, compensation cost increases for the 12-month period ending in June 2019 ranged from 2.1 percent for natural resource, construction, and maintenance occupations to 3.7 percent for service occupations.
Among private industry supersectors, compensation cost increases for the 12-month period ending in June 2019 ranged from 1.0 percent for information to 3.6 percent for leisure and hospitality.
State and Local Government Workers
Compensation costs for state and local government workers increased 3.0 percent for the 12-month period ending in June 2019. In June 2018, the increase was 2.3 percent. Wages and salaries increased 2.5 percent for the 12-month period ending in June 2019 and 1.9 percent a year ago. Benefit costs increased 3.6 percent for the 12-month period ending in June 2019. The prior year increase was 3.1 percent.
Posted: July 31, 2019 Wednesday 08:30 AM