Compensation costs for private industry workers increased 1.9 percent over the year, slowing from the December 2014 increase of 2.3 percent. Wages and salaries increased 2.1 percent for the current 12- month period. In December 2014, the increase was 2.2 percent. The increase in the cost of benefits was 1.3 percent for the 12-month period ending in December 2015, lower than December 2014 when the increase was 2.5 percent. Employer costs for health benefits increased 3.0 percent over the year. In December 2014, the increase was 2.4 percent.
Compensation costs for state and local government workers increased 2.5 percent for the 12-month period ending in December 2015. In December 2014, the increase was 2.0 percent. Wages and salaries increased 1.8 percent for the 12-month period ending in December 2015, and in December 2014 the increase was 1.6 percent. Benefit costs increased 3.5 percent in December 2015, higher than in December 2014 when the increase was 2.9 percent.
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NOTE: This report is provided with the understanding that the publisher is not engaged in providing legal, financial, accounting or other professional advice. If professional assistance is required, the services of a competent professional should be sought. Furthermore, while we do our best to ensure that these data are accurate, we suggest that any entity making decisions based on these numbers should verify the data at their source prior to making such decisions.
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