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 fourth quarter, following a 0.4 percent increase in the third quarter. The wages and salary component increased 0.3 percent, slightly below the third quarter’s 0.4 percent advance. The benefits component rose 0.6 percent in the fourth quarter. Year-over-year, civilian compensation advanced 1.9 percent in the fourth quarter, right in line with its average since the recession ended of 1.9 percent. Civilian wages and salaries increased 1.7 percent over the past twelve months, while benefits rose 2.5 percent. Private compensation grew 1.9 percent on a year-over-year basis and has also averaged 1.9 percent since the recession ended. Private wages and salaries increased 1.8 percent from this same time last year, while benefits grew 2.3 percent. Inflationary impetus from the labor market continues to be minimal as compensation growth has averaged 1.9 percent for the past three years.