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Compensation costs rise 2.3 percent for private industry workers over the year ending March 2017

May 02, 2017

Compensation costs for private industry workers rose 2.3 percent over the year ending March 2017. Wages and salaries for private industry workers, which make up about 70 percent of compensation costs, rose 2.6 percent over the year. Compensation costs increased 4.3 percent over the year for workers in the leisure and hospitality industry, the largest increase among private industries. The 4.6-percent over-the-year increase in wages and salaries for leisure and hospitality workers was also the largest 12-month percentage increase across private industries.     

12-month percent change in employment cost indexes for private industry workers by industry, March 2017
Industry Total compensation Wages and salaries

Leisure and hospitality

4.3% 4.6%

Financial activities

2.9 2.9

Other services (except public administration)

2.9 2.9

Trade, transportation, and utilities

2.7 3.0

Construction

2.5 2.7

All workers

2.3 2.6

Manufacturing

2.2 2.5

Education and health services

2.1 2.3

Information

1.8 2.0

Professional and business services

1.5 1.4

The industries with the lowest over-the-year percentage increases in compensation costs for March 2017 were the information industry (1.8 percent) and professional and business services (1.5 percent). Professional and business services was the only private industry with an over-the-year increase in wages and salaries lower than 2.0 percent.

These data are from the Employment Cost Trends program and are not seasonally adjusted. To learn more, see "Employment Cost Index—March 2017" (HTML) (PDF) and charts related to the Employment Cost Index news release.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Compensation costs rise 2.3 percent for private industry workers over the year ending March 2017 on the Internet at https://www.bls.gov/opub/ted/2017/compensation-costs-rise-2-point-3-percent-for-private-industry-workers-over-the-year-ending-march-2017.htm (visited June 01, 2020).

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