Keeping you up to date on the latest data releases.
- Employment Cost Index
Employer costs of compensation for civilian workers rose 0.5 percent (nonannualized) in the second quarter, following a 0.4 percent increase in the first quarter. Year-over-year growth rates in the compensation series have been slowly declining from 2.1 percent in the second quarter of 2011 to 1.8 percent for the current quarter. The wages and salary component also increased 0.4 percent, down slightly from the first quarter’s 0.5 percent advance. Civilian wages and salaries increased 1.7 percent for the year and has remained in the range of 1.5 to 1.7 percent for the past 12 quarters. The benefits component continues to slow; increasing 0.6 percent in the first quarter while year over year growth rates have declined from 3.6 percent during the second quarter of 2011 to 2.1 percent in the current quarter. Stable wage and salary growth along with falling benefits costs point signal minimal wage pressures.