Compensation costs for the private sector rose 1.0 percent from March to June 2004 (seasonally adjusted), after advancing 1.1 percent in the prior quarter.
Private sector benefit costs rose 1.7 percent for the June quarter, moderating from the 2.6-percent gain in the previous quarter.
Wages and salaries for private workers advanced 0.6 percent during the June quarter, identical to the increase in March 2004. Wage and salary gains in transportation and public utilities and in service industries led the increase. Wage and salary increases were lower in construction, wholesale trade, and finance, insurance, and real estate.
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—June 2004" (PDF) (TXT), news release USDL 04-1380.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Employment costs in private industry, June 2004 at https://www.bls.gov/opub/ted/2004/jul/wk4/art05.htm (visited December 06, 2023).