Thursday, July 29, 2004
Tweet[IWS] BLS: EMPLOYMENT COST INDEX-JUNE 2004 [29 July 2004]
IWS Documented News Service
_______________________________
Institute for Workplace Studies Professor Samuel B. Bacharach
School of Industrial & Labor Relations Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor Stuart Basefsky
New York, NY 10016 Director, IWS News Bureau
________________________________________________________________________
EMPLOYMENT COST INDEX-JUNE 2004 [29 July 2004]
http://www.bls.gov/news.release/eci.nr0.htm
or
http://www.bls.gov/news.release/pdf/eci.pdf
[full-text, 18 pages]
and
Supplemental Files Table of Contents
http://www.bls.gov/web/eci.supp.toc.htm
Total compensation costs for civilian workers increased 0.9 percent
from March to June 2004, seasonally adjusted, moderating from the 1.1
percent gain from December 2003 to March 2004, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. Wage and
salary costs increased 0.6 percent and benefit costs rose 1.8 percent,
continuing to rise sharply. The Employment Cost Index (ECI), a component
of the National Compensation Survey, measures quarterly changes in
compensation costs, which include wages, salaries, and employer costs for
employee benefits for nonfarm private and State and local government
workers.
Rises in benefit costs accounted for a little over half of the
increase in compensation costs for civilian workers during the March-to-
June period. Among private industry workers, benefit costs were one-half
of compensation gains during the quarter, with health insurance and
defined benefit retirement costs combined accounting for one-quarter of
the rise in compensation costs. Among State and local government workers,
benefit costs contributed nearly three-fourths of compensation gains
during the March-to-June 2004 period, with defined benefit retirement
costs accounting for almost one-half and health insurance contributions
accounting for one-fourth of the gain in compensation costs.
Quarterly changes, seasonally adjusted
Compensation costs for the private sector rose 1.0 percent from March
to June 2004, after advancing 1.1 percent in the prior quarter. After a
strong gain of 1.8 percent in the March quarter, gains in the goods-
producing industries moderated to 0.9 percent for the period ended June
2004. For State and local government workers, compensation costs
increased 1.1 percent from March to June, compared with a gain of 1.0
percent for the quarter ended in March. (See tables A and 1.)
Benefit costs increased 1.8 percent for civilian workers (nonfarm
private industry and State and local government) in the June 2004 quarter,
following a gain of 2.4 percent in the March 2004 quarter. Private sector
benefit costs rose 1.7 percent for the June quarter, moderating from the
2.6 percent gain in the previous quarter. Benefit costs for State and
local governments increased 1.9 percent in the June quarter, following an
increase of 1.7 percent in March 2004.
Wages and salaries for civilian and private workers advanced 0.6
percent during the June quarter, identical to the increases in March 2004.
Wage and salary gains in transportation and public utilities and in
service industries led the increase. Wage and salary increases were lower
in construction, wholesale trade, and finance, insurance, and real estate.
Wages and salaries in State and local governments advanced 0.7 percent during
the March-to-June period, after gaining 0.6 percent in the previous quarter.
AND MUCH MORE...including TABLES....
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky *
Director, IWS News Bureau *
Institute for Workplace Studies *
Cornell/ILR School *
16 E. 34th Street, 4th Floor *
New York, NY 10016 *
*
Telephone: (607) 255-2703 *
Fax: (607) 255-9641 *
E-mail: smb6@cornell.edu *
****************************************
_______________________________
Institute for Workplace Studies
School of Industrial & Labor Relations
Cornell University
16 East 34th Street, 4th floor
New York, NY 10016
________________________________________________________________________
EMPLOYMENT COST INDEX-JUNE 2004 [29 July 2004]
http://www.bls.gov/news.release/eci.nr0.htm
or
http://www.bls.gov/news.release/pdf/eci.pdf
[full-text, 18 pages]
and
Supplemental Files Table of Contents
http://www.bls.gov/web/eci.supp.toc.htm
Total compensation costs for civilian workers increased 0.9 percent
from March to June 2004, seasonally adjusted, moderating from the 1.1
percent gain from December 2003 to March 2004, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. Wage and
salary costs increased 0.6 percent and benefit costs rose 1.8 percent,
continuing to rise sharply. The Employment Cost Index (ECI), a component
of the National Compensation Survey, measures quarterly changes in
compensation costs, which include wages, salaries, and employer costs for
employee benefits for nonfarm private and State and local government
workers.
Rises in benefit costs accounted for a little over half of the
increase in compensation costs for civilian workers during the March-to-
June period. Among private industry workers, benefit costs were one-half
of compensation gains during the quarter, with health insurance and
defined benefit retirement costs combined accounting for one-quarter of
the rise in compensation costs. Among State and local government workers,
benefit costs contributed nearly three-fourths of compensation gains
during the March-to-June 2004 period, with defined benefit retirement
costs accounting for almost one-half and health insurance contributions
accounting for one-fourth of the gain in compensation costs.
Quarterly changes, seasonally adjusted
Compensation costs for the private sector rose 1.0 percent from March
to June 2004, after advancing 1.1 percent in the prior quarter. After a
strong gain of 1.8 percent in the March quarter, gains in the goods-
producing industries moderated to 0.9 percent for the period ended June
2004. For State and local government workers, compensation costs
increased 1.1 percent from March to June, compared with a gain of 1.0
percent for the quarter ended in March. (See tables A and 1.)
Benefit costs increased 1.8 percent for civilian workers (nonfarm
private industry and State and local government) in the June 2004 quarter,
following a gain of 2.4 percent in the March 2004 quarter. Private sector
benefit costs rose 1.7 percent for the June quarter, moderating from the
2.6 percent gain in the previous quarter. Benefit costs for State and
local governments increased 1.9 percent in the June quarter, following an
increase of 1.7 percent in March 2004.
Wages and salaries for civilian and private workers advanced 0.6
percent during the June quarter, identical to the increases in March 2004.
Wage and salary gains in transportation and public utilities and in
service industries led the increase. Wage and salary increases were lower
in construction, wholesale trade, and finance, insurance, and real estate.
Wages and salaries in State and local governments advanced 0.7 percent during
the March-to-June period, after gaining 0.6 percent in the previous quarter.
AND MUCH MORE...including TABLES....
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 9:01 AM
