August 1, 2012 (The Editor’s Desk is updated each business day.)
Compensation costs up in June
Compensation costs for private industry workers increased 1.8 percent over the 12-month period ending June 2012, compared to the 2.3-percent increase for the previous 12-month period.
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[Chart data]
Wages and salaries for private industry workers increased 1.8 percent from June 2011 to June 2012.
The increase for the 12-month period ending June 2011 was 1.7 percent. The increase in the cost of
benefits was 1.9 percent for the 12-month period ending June 2012, down from the June 2011 increase
of 4.0 percent.
Compensation costs for state and local government workers increased 1.6 percent for the 12-month
period ending June 2012, essentially unchanged from the June 2011 increase of 1.7 percent.
Wages and salaries for state and local government workers increased 1.1 percent for the 12-month period ending June 2012. A year earlier the increase was
1.2 percent. Benefit costs for state and local government workers increased 2.7 percent from June 2011 to June 2012. In the prior 12 months, the increase was 3.0 percent.
These data are from the BLS Employment Cost Trends program. To learn more, see "Employment Cost Index — June 2012," (HTML) (PDF) news release USDL-12-1528. Compensation costs (also known as employment costs) include wages, salaries, and employer costs for employee benefits.
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