Tuesday, May 4, 2010

Employment Cost Index- the most comprehensive measure of labor costs!

Employment Cost Index-
Compensation costs for civilian workers increased 0.6 percent, seasonally adjusted, for the 3-month period ending March 2010, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.4 percent while benefits (which make up the remaining 30 percent of compensation)--increased 1.1 percent

Table A. Major series of the Employment Cost Index (Percent change)
Table 6. Employment Cost Index for total compensation(1), for private industry workers, by bargaining status and census region and division

Public Sector Pay Outpaces Private Pay;
The chart shows that public and private sector pay rose in parallel from 2001 to 2004. Then the lines diverged. Since early 2005, public sector pay has risen by 5% in real terms. Meanwhile, private sector pay has been flat.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.