∙ Employment Cost Index: Wages, Benefits

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According to the Bureau of Labor Statistics [USDOL], compensation costs rose 0.4% in the quarter December 2011-March 2012, and 1.9% over the year ending March. All Civilian Workers: Wage and benefit costs for civilian workers rose 0.5 percent, seasonally adjusted, from December 2011 to March 2012. As the following chart shows, over the year, compensation rose 1.9 percent, wages and salaries 1.7 percent, and benefits 2.7 percent: Private Industry Workers: Compensation costs for private industry workers increased 2.1 percent over the year, essentially unchanged from the 2.0 percent increase for the previous 12-month period. Wages and salaries increased 1.9 percent for the current 12-month period. The increase in the cost of benefits was 2.8 percent for the 12-month period ending March 2012. The March 2011 increase was 3.0 percent. Employer costs for health benefits increased 3.0 percent for the 12-month period ending March 2012. State and Local Government Workers: Compensation costs for state and local government workers increased 1.5 percent for the 12-month period ending March 2012. Wages and salaries increased 1.0 percent; benefit costs increased 2.3 percent.

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