Employment Costs Up 0.5% for Q4

Employment costs bumped up 0.5%, seasonally adjusted, for the last three months of 2012, according to a U.S. Department of Labor report [link opens in PDF] released today. Benefits (around 30% of total compensation) increased 0.6%, while wages and salaries (the other 70% of costs) rose 0.3%.

Source: bls.gov. 

On a longer-term basis, compensation costs for civilian, private industry, and state and local government workers all increased 1.9% in 2012. These numbers compare to a 2% increase in 2011 for civilian workers, a 2.2% increase in 2011 for private industry workers, and a 1.3% increase in 2011 for state and local government workers.

For private industry sectors, compensation cost increases over the past 12 months ranged from a 1.1% increase in the leisure and hospitality industry to a 3.9% increase in the information sector.

In the past year, private industry union worker employment costs increased by an average of 2.2%, while nonunion total compensation bumped up approximately 1.9%. On a regional level, worker compensation in the South increased the most (+2.4%), while the West and Northeast clocked in with 1.6% increases. The Midwest notched a 1.8% increase.

link


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2228131, ~/Articles/ArticleHandler.aspx, 9/20/2014 12:17:55 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement