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Employment Costs Rise in 4Q2012, But Remain Within Recent Trend Channel

January 31st, 2013
in econ_news, syndication

The market expect a quarter-over-quarter adjusted percent change in civilian worker employment costs of 0.5% to 0.6% versus the 0.5% reported.

Follow up:

From the BLS:

Compensation costs for civilian workers increased 0.5 percent, seasonally adjusted, for the 3-month period ending December 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 0.6 percent.

Civilian Workers

Compensation costs for civilian workers increased 1.9 percent for the 12-month period ending December 2012, essentially unchanged from the December 2011 increase of 2.0 percent. Wages and salaries increased 1.7 percent for the current 12-month period. In December 2011 the increase was 1.4 percent. Benefit costs increased 2.5 percent for the 12-month period ending December 2012, down from the December 2011 increase, which was 3.2 percent.

Private Industry Workers

Compensation costs for private industry workers increased 1.9 percent over the year. In December 2011 the increase was 2.2 percent. Wages and salaries increased 1.7 percent for the current 12-month period, essentially unchanged from the 12-month period ending December 2011, which was 1.6 percent. The increase in the cost of benefits was 2.2 percent for the 12-month period ending December 2012, down from the December 2011 increase of 3.6 percent. Employer costs for health benefits increased 2.8 percent over the year. In December 2011 the increase was 3.5 percent.
State and Local Government Workers

Compensation costs for state and local government workers increased 1.9 percent for the 12-month period ending December 2012, higher than the December 2011 increase of 1.3 percent. Values for this series—which began in June 1982—have ranged from 1.3 percent to 9.6 percent. Wages and salaries increased 1.1 percent for the 12-month period ending December 2012, essentially unchanged from a year earlier when the increase was 1.0 percent. Prior values for this series, which also began in June 1982, ranged from 1.0 percent to 8.5 percent. Benefit costs increased 3.4 percent in December 2012, up from the December 2011 increase of 2.1 percent.

source: BLS

 

 

 









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