Compensation costs for private industry workers up 1.7 percent in year ending March 2014

May 07, 2014

Compensation costs for private industry workers increased 1.7 percent over the year. In March 2013 the increase was 1.9 percent. Wages and salaries increased 1.7 percent for the current 12-month period ending March 2014, unchanged from March 2013. The increase in the cost of benefits was 1.8 percent for the 12-month period ending March 2014. In March 2013, the increase in the cost of benefits was 2.0 percent.

12-month percent change in compensation costs for private industry
DateCompensation (1)Wages And SalariesBenefits

Q1 2009

1.92.01.6

Q2 2009

1.51.61.3

Q3 2009

1.21.41.1

Q4 2009

1.21.30.9

Q1 2010

1.61.52.0

Q2 2010

1.91.62.4

Q3 2010

2.01.62.8

Q4 2010

2.11.82.9

Q1 2011

2.01.63.0

Q2 2011

2.31.74.0

Q3 2011

2.11.73.3

Q4 2011

2.21.63.6

Q1 2012

2.11.92.8

Q2 2012

1.81.81.9

Q3 2012

1.91.82.2

Q4 2012

1.81.72.0

Q1 2013

1.91.72.0

Q2 2013

1.91.91.9

Q3 2013

1.91.82.0

Q4 2013

2.02.11.9

Q1 2014

1.71.71.8
Footnotes:

(1) Includes wages and salaries and benefits.

Among occupational groups, compensation cost increases for private industry workers for the 12-month period ending March 2014 ranged from 1.1 percent for service occupations to 1.9 percent for management, professional, and related; natural resource, construction, and maintenance; and production, transportation, and material moving occupations.

These data are from the Employment Cost Trends program. To learn more, see "Employment Cost Index — March 2014" (HTML) (PDF), news release USDL‑14‑0700. 

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Compensation costs for private industry workers up 1.7 percent in year ending March 2014 on the Internet at http://www.bls.gov/opub/ted/2014/ted_20140507.htm (visited November 24, 2014).

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