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Investing April 27, 2007
Compensation Costs See Slight Rise From Last Quarter
April 27, 2007 (PLANSPONSOR.com) - Total
compensation costs for civilian workers increased 0.8% in the
December 2006 to March 2007 period - about the same rate as
the prior quarter - the Bureau of Labor Statistics (BLS) of
the US Department of Labor reported Friday.
Reported by Adrien Martin
The BLS said that December to March benefit costs changed by 0.1%, after an increase of 1.1% during the previous three-month period and wages and salaries increased by 1.1% during the same December to March period.
Compensation costs for the private sector also rose
0.6%, with compensation costs for state and local
government workers rising by 1.3% — up from the 1%
increase the quarter before. Wages and salaries of civilian
workers rose 1.1% in the March quarter, up from 0.7%.
Private industry workers’ wages and salaries increased
1.1% during the March 2006 quarter, compared with a 0.8%
gain in the previous three-month period.
Wages and salaries in state and local government advanced
0.9% during the December to March period, moderating from
the 0.8% increase in the prior quarter. Benefits costs
declined 0.3% for the private industry in the March
quarter, compared to a 0.9% gain in the quarter before.
The change in benefit costs for civilian workers in the
March quarter was 0.1%, down from an increase of 1.1% in
the December quarter. For state and local
government, benefits increased 2.1%, up from 1.4% in the
previous quarter.
The Employment Cost Index (ECI), a component of the
National Compensation Survey, measures quarterly changes in
compensation costs, which include wages, salaries, and
employer costs for employee benefits for civilian workers.