Jul 29, 201109:22 AMBlog

Employment Cost Index rises

Jul 29, 2011 - 09:22 AM
Compensation costs for civilian workers increased 0.7 percent, seasonally adjusted, for the three-month period ending June 2011, according to the U.S. Bureau of Labor Statistics. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.4 percent and benefits (which make up the remaining 30 percent of compensation) increased 1.3 percent.

Compensation costs for civilian workers increased 2.2 percent for the 12-month period ending June 2011. A year earlier, the increase was 1.9 percent. Wages and salaries increased 1.6 percent for the current 12-month period; the same as the June 2010 increase. Benefit costs accelerated to 3.6 percent, up from a 2.5-percent increase for the 12-month period ending June 2010. Compensation costs for private industry workers increased 2.3 percent over the year, compared to the 1.9-percent increase for the previous 12-month period. The wage and salary series increased 1.7 percent for the current 12-month period.  The change for the 12-month period ending June 2010 was 1.6 percent.

The increase in the cost of benefits jumped to 4 percent for the 12-month period ending June 2011, higher than the June 2010 increase of 2.4 percent. Employer costs for health benefits increased 3.6 percent for the 12-month period ending June 2011. In June 2010, the 12-month percent change was 5 percent.
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