Employment costs rose 1.4 percent from December to March
April 30, 2003
Compensation costs for private sector workers rose sharply, 1.4 percent from December 2002 to March 2003 (seasonally adjusted), after rising 0.7 percent in the prior quarter.
Gains in private sector compensation costs were led by large increases in durable manufacturing; finance, insurance, and real estate; and wholesale trade.
Wages and salaries in the private sector increased by 1.0 percent, after posting moderate gains in the prior two quarters. Wage gains in the finance, insurance, and real estate and wholesale trade industries led the increase.
Benefit costs for private sector workers shot up 2.4 percent for the March quarter, significantly higher than all quarterly gains since March 2000.
These data are from the BLS Compensation Cost Trends program. Compensation costs (also known as employment costs) include wages, salaries, and employer costs for employee benefits. Data are subject to revision. Learn more in "Employment Cost Index—March 2003" (PDF) (TXT), news release USDL 03-200.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Employment costs rose 1.4 percent from December to March on the Internet at https://www.bls.gov/opub/ted/2003/apr/wk4/art03.htm (visited January 20, 2018).
Recent editions of Spotlight on Statistics
Industry on Tap: Breweries
A look at employment, wages, and job safety in breweries and producer prices for beer.
Differences in Parents’ Time Use between the Summer and the School Year
A look at how parents of school-age children spend their time in the summer and the school year.
Hispanics in the United States: Celebrating National Hispanic Heritage Month
A look at employment, earnings, consumer spending, time use, and workplace injuries and illnesses for the Hispanic or Latino U.S. population.
Expenditures on Admissions to the Arts, Movies, Sporting Events, and Other Entertainment
A look at consumer spending and attendance at arts, sports, and entertainment events.