BLS report: Compensation costs up 0.8% Dec 2016-Mar 2017 and up 2.4% over the year ending Mar 2017

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Compensation costs up 0.8% Dec 2016-Mar 2017 and up 2.4% over the year ending Mar 2017

Economic News Release USDL-17-0478

Employment Cost Index Summary

NEWS RELEASE
BUREAU OF LABOR STATISTICS
U.S. DEPARTMENT OF LABOR

TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 a.m. (EDT) Friday, April 28, 2017

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EMPLOYMENT COST INDEX – MARCH 2017


Compensation costs for civilian workers increased 0.8 percent, seasonally adjusted, for the 3-month period ending in March 2017, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.8 percent, and benefits (which make up the remaining 30 percent of compensation) increased 0.7 percent. (See tables A, 1, 2, and 3.)

Civilian Workers

Compensation costs for civilian workers increased 2.4 percent for the 12-month period ending in March 2017. In March 2016, compensation costs increased 1.9 percent. Wages and salaries increased 2.5 percent for the current 12-month period and increased 2.0 percent for the 12-month period ending in March 2016. Benefit costs increased 2.2 percent for the 12-month period ending in March 2017. In March 2016, the increase was 1.7 percent. (See tables A, 4, 8, and 12.)

Private Industry Workers

Compensation costs for private industry workers increased 2.3 percent over the year. In March 2016, the increase was 1.8 percent. Wages and salaries increased 2.6 percent for the current 12-month period. In March 2016, the increase was 2.0 percent. The cost of benefits rose 1.9 percent for the 12-month period ending in March 2017, higher than the 1.2 percent increase in March 2016. (See tables A, 5, 9, and 12.)

Employer costs for health benefits increased 1.3 percent for the 12-month period ending in March 2017. (For further information, see www.bls.gov/web/eci/echealth.pdf.)
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The Employment Cost Index for June 2017 is scheduled for release on Friday, July 28, 2017, at 8:30 a.m. (EDT).

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