Keeping you up to date on the latest data releases.
- Employment Cost Index
Employer costs of compensation for civilian workers rose 0.4 percent (nonannualized) in the fourth quarter, following a 0.3 percent increase in the third quarter. The wages and salary component also increased 0.4 percent, up slightly from the third quarter’s 0.3 percent advance. The benefits component, averaging 1.2 percent growth in the first half of the year, continues to slow; increasing 0.6 percent in the fourth quarter. Year-over-year, civilian compensation has now advanced 2.0 percent for two straight quarters and has averaged 1.9 percent since the recession ended. Civilian wages and salaries increased 1.5 percent for the year while benefits continue an upward trajectory, increasing 3.2 percent. Year-over-year, private compensation grew 2.1 percent and has averaged 1.9 percent since the recession ended. Private wages and salaries increased 1.7 percent for the year while benefits grew 3.6 percent in 2011. Looking across private industry groups, manufacturing posted the largest increase, 2.8 percent, while leisure and hospitality increased 1.0 for the year.