Compensation costs up 0.6% Mar 2016-June 2016 and up 2.3% over the year ending June
Last edited Fri Jul 29, 2016, 10:59 AM - Edit history (1)
Source: U.S. Bureau of Labor Statistics
Economic News Release USDL-16-1539
NEWS RELEASE
BUREAU OF LABOR STATISTICS
U.S. DEPARTMENT OF LABOR
TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (EDT) FRIDAY, JULY 29, 2016
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EMPLOYMENT COST INDEX - JUNE 2016
Compensation costs for civilian workers increased 0.6 percent, seasonally adjusted, for the 3-month period ending in June 2016, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.6 percent, and benefits (which make up the remaining 30 percent of compensation) increased 0.5 percent. (See chart 1 and tables A, 1, 2, and 3.)
Civilian Workers
Compensation costs for civilian workers increased 2.3 percent for the 12-month period ending in June 2016. In June 2015, compensation costs increased 2.0 percent. Wages and salaries increased 2.5 percent for the current 12-month period, and increased 2.1 percent for the 12-month period ending in June 2015. Benefit costs increased 2.0 percent for the 12-month period ending in June 2016. In June 2015, the increase was 1.8 percent. (See chart 2 and tables A, 4, 8, and 12.)
Private Industry Workers
Compensation costs for private industry workers increased 2.4 percent over the year, higher than the June 2015 increase of 1.9 percent. Wages and salaries increased 2.6 percent for the current 12-month period. In June 2015, the increase was 2.2 percent. The increase in the cost of benefits was 1.7 percent for the 12-month period ending in June 2016, and in June 2015 the increase was 1.4 percent. (See charts 3 and 4 and tables A, 5, 9, and 12.)
Employer costs for health benefits increased 2.8 percent for the 12-month period ending in June 2016. (For further information, see www.bls.gov/web/eci/echealth.pdf.)
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The Employment Cost Index for September 2016 is scheduled to be released on Friday, October 28, 2016, at 8:30 a.m. (EDT).
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Read more: http://www.bls.gov/news.release/eci.nr0.htm
The latest advance stays ahead of inflation
By Jeffrey Sparshott and Eric Morath
Eric.Morath@wsj.com
https://twitter.com/EricMorath
Jeffrey.Sparshott@wsj.com
https://twitter.com/jeffsparshott
July 29, 2016 8:31 a.m. ET
WASHINGTON—Employers’ personnel costs rose modestly during the spring, the latest reminder of slow income growth during the recovery.
Acckkk. Pay per view. I'll get the text in a while. I have access through an account at a library, but the story is not online there yet. Until then:
Employment costs climb 0.6% in second quarter
Published: July 29, 2016 10:47 a.m. ET
Compensation rising at fastest pace in more than a year
By Jeffry Bartash
Reporter
A closely watched gauge of how much it costs to employ a worker in the U.S. rose 0.6% in the second quarter.
That matched the expectation of economists surveyed by MarketWatch. The Employment Cost Index, or ECI, tracks how much Americans earn in wages and benefits
The ECI has risen 2.3% in the past 12 months, the fastest pace since early 2015.
Read: U.S. economy running at half speed, GDP shows
A tighter labor market and low unemployment, along with a raft of state minimum wage increases, have combined to push wages and benefits higher.
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