Employment costs increased a seasonally adjusted 0.3% for the first quarter of 2013, according to a Labor Department report (link opens in PDF) released today.
After rising a revised 0.4% for 2012's fourth quarter , the employment cost index remains relatively unchanged.
Wages and salaries increased 0.5% for Q1, while the report says benefit costs fell 0.1%. However, a message from the Bureau of Labor Statistics notes that there may be errors in their benefits data affecting both Q4 2012 and this most recent report. Currently, it is believed that only benefit data for sales and office workers is skewed for Q1, and corrections should be completed in time for Q2's employment cost report.
Civilian worker compensation costs increased 1.8% over the last year, while private sector costs clocked in with a 1.7% bump. "Leisure and hospitality" squeaked by with a 0.9% increase, while the "information" industry dished out an additional 2.2% to employees.
In the last 12 months, employment costs for union workers are up 2.5%, compared to 1.6% for nonunion workers. Employee costs in the South saw the largest gains, with costs up 2.1%, while Midwest compensation costs lagged with a 1.3% increase.
Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Solar Companies Are Set Up for a Strong Earnings Season
Rising demand and prices for solar panel prices bode well for manufacturers.
Today's Workers Aren't Optimistic About Raises and Promotions, Data Shows
Surprisingly, a large number of workers across the globe think their chances of a pay or title boost are pretty low. Here's how to bust out of that cycle and propel your career forward.
Could These High-Flying Tech Stocks Start Paying a Dividend?
Alphabet, Facebook, and Adobe don't do it yet, but that could change sooner than you think.