US employment cost index 0.9% up in June

Compensation costs for US civilian workers increased by 0.9 per cent – seasonally adjusted – for the three months ending in June, new data released by the US Bureau of Labor Statistics (BLS) showed on Tuesday Wages and salaries also saw a 0.9 per cent rise, while benefit costs increased by 1.0 per cent.

Inflation-adjusted compensation costs for private industry rose by 0.9 per cent over the year. Union workers saw a 6.0 per cent increase in compensation costs, while non-union workers experienced a 3.6 per cent rise.

State and local government workers saw a 4.9 per cent increase in compensation costs over the past year, with wages and salaries up by 5.1 per cent and benefit costs by 4.8 per cent.

Attribution: The US Bureau of Labor Statistics (BLS)