Em­ploy­ment Cost In­dex Rose 0.8% in 3rd Quar­ter

The Bond Buyer - - Market News - — Chip Bar­nett

Com­pen­sa­tion costs for civil­ian work­ers in­creased 0.8%, sea­son­ally ad­justed, for the three-month pe­riod end­ing in Septem­ber, the Bureau of La­bor Sta­tis­tics re­ported Wed­nes­day.

Wages and salaries, which make up about 70% of com­pen­sa­tion costs) in­creased 0.9% while ben­e­fit costs, which make up the re­main­ing 30% of com­pen­sa­tion, in­creased 0.4%. Com­pen­sa­tion costs for civil­ian work­ers in­creased 2.8% for the 12-month pe­riod end­ing in Septem­ber com­pared with a com­pen­sa­tion costs in­crease of 2.5% in Septem­ber 2017. Wages and salaries in­creased 2.9% for the 12-month pe­riod end­ing in Septem­ber and in­creased 2.5% for the 12-month pe­riod end­ing in Septem­ber 2017. Ben­e­fit costs in­creased 2.6% for the 12-month pe­riod end­ing in Septem­ber; in Septem­ber 2017, the in­crease was 2.4%.

For state and lo­cal gov­ern­ment work­ers, com­pen­sa­tion costs in­creased 2.5% for the 12-month pe­riod end­ing in Septem­ber 2018. In Septem­ber 2017, the in­crease was 2.4%. Wages and salaries in­creased 2.3% for the 12-month pe­riod end­ing in Septem­ber 2018, com­pared with 2.0% a year ago. Ben­e­fit costs in­creased 3.1% for the 12-month pe­riod end­ing in Septem­ber 2018. The prior year in­crease was 3.0%.

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