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Thursday, April 30, 2020

U.S. employment cost index higher than expected

Compensation costs for civilian workers increased 0.8 percent, seasonally adjusted, for
the 3-month period ending in March 2020, the U.S. Bureau of Labor Statistics reported 
today. Wages and salaries increased 0.9 percent and benefit costs increased 0.4 percent
from December 2019. 

Compensation costs for civilian workers increased 2.8 percent for the 12-month period 
ending in March 2020, and also increased 2.8 percent in March 2019. Wages and salaries 
increased 3.1 percent over the year and increased 2.9 percent for the 12-month period 
ending in March 2019. Benefit costs increased 2.1 percent for the 12-month period 
ending in March 2020. In March 2019, the increase was 2.6 percent. 

Compensation costs for private industry workers increased 2.8 percent over the year. 
In March 2019, the increase was also 2.8 percent. Wages and salaries increased 3.3 
percent for the 12-month period ending in March 2020 and increased 3.0 percent in March
2019. The cost of benefits rose 1.6 percent for the 12-month period ending in March 
2020 and increased 2.4 percent in March 2019. 

Employer costs for health benefits increased 1.5 percent for the 12-month period ending
in March 2020. 

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