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 an upwardly revised 0.5 percent increase in the first quarter. The wages and salary component increased 0.4 percent, slightly below the first quarter’s 0.5 percent advance. The benefits component edged down from 0.6 percent to 0.4 percent in the current quarter. Year-over-year, civilian compensation advanced 1.9 percent in the second quarter, on par with its average (1.9 percent) since the recession ended. Civilian wages and salaries increased 1.6 percent over the past 12 months, also on par with its average (1.6 percent) since the recession ended. Growth in civilian benefits continues to slow from 3.7 percent in 2011 to 2.1 percent in the first quarter. Year-over-year, growth in private compensation, wages, and benefits grew 1.9 percent. Inflationary impetus from the labor market continues to be minimal as compensation growth has averaged 1.9 percent for the since the recession ended.