Employment Costs Moderate Increases Continue in 3Q2012

October 31st, 2012
in econ_news, syndication

Follow up:

From the BLS:

Compensation costs for civilian workers increased 0.4 percent, seasonally adjusted, for the 3-month period ending September 2012, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.3 percent, and benefits (which make up the remaining 30 percent of compensation) increased 0.8 percent.

Civilian Workers

Compensation costs for civilian workers increased 2.0 percent for the 12-month period ending September 2012. In September 2011 the increase was also 2.0 percent. Wages and salaries increased 1.7 percent for the current 12-month period, essentially unchanged from a year ago when wages and salaries increased 1.6 percent. Benefit costs increased 2.6 percent for the 12-month period ending September 2012 down from the September 2011 increase, which was 3.2 percent.

Private Industry Workers

Compensation costs for private industry workers increased 2.0 percent over the year. In September 2011 the increase was 2.1 percent. Wages and salaries increased 1.8 percent for the current 12-month period. The increase for the 12-month period ending September 2011 was 1.7 percent. The increase in the cost of benefits was 2.3 percent for the 12-month period ending September 2012, down from the September 2011 increase of 3.3 percent. Employer costs for health benefits increased 3.0 percent over the year. In September 2011 the 12-month increase was 3.4 percent. Among occupational groups, compensation cost increases for private industry workers for the 12-month period ending September 2012 ranged from 1.7 percent for production, transportation, and material moving occupations and service occupations to 2.4 percent for sales and office occupations. Among industry supersectors, compensation cost increases for private industry workers for the current 12-month period ranged from 0.8 percent for leisure and hospitality to 3.7 percent for information.

State and Local Government Workers

Compensation costs for state and local government workers increased 1.8 percent for the 12-month period ending September 2012. In September 2011 the increase was 1.5 percent. Since June 1982 12-month increases have ranged from 1.3 percent to 9.6 percent. Wages and salaries increased 1.1 percent for the 12-month period ending September 2012, essentially unchanged from a year earlier when the increase was 1.0 percent. Since June 1982, 12-month increases have ranged from 1.0 percent to 8.5 percent. Benefit costs increased 3.2 percent in September 2012. In September 2011 the increase was 2.5 percent. Since June 1990, 12-month increases have ranged from 1.2 percent to 8.3 percent.

source: BLS

 

 

 









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