Thursday, January 31, 2013

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[IWS] BLS: EMPLOYMENT COST INDEX - DECEMBER 2012 [31 January 2013]

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 - DECEMBER 2012 [31 January 2013]

http://www.bls.gov/news.release/eci.nr0.htm

or

http://www.bls.gov/news.release/pdf/eci.pdf

[full-text, 21 pages]

and

Supplemental Files Table of Contents

http://www.bls.gov/web/eci.supp.toc.htm

 

 

Compensation costs for civilian workers increased 0.5 percent, seasonally adjusted, for the 3-month

period ending December 2012, the U.S. Bureau of Labor Statistics reported today. Wages and salaries

(which make up about 70 percent of compensation costs) increased 0.3 percent, and benefits (which

make up the remaining 30 percent of compensation) increased 0.6 percent.

Civilian Workers

 

Compensation costs for civilian workers increased 1.9 percent for the 12-month period ending

December 2012, essentially unchanged from the December 2011 increase of 2.0 percent. Wages and

salaries increased 1.7 percent for the current 12-month period. In December 2011 the increase was

1.4 percent. Benefit costs increased 2.5 percent for the 12-month period ending December 2012, down

from the December 2011 increase, which was 3.2 percent.

 

Private Industry Workers

 

Compensation costs for private industry workers increased 1.9 percent over the year. In December 2011

the increase was 2.2 percent. Wages and salaries increased 1.7 percent for the current 12-month period,

essentially unchanged from the 12-month period ending December 2011, which was 1.6 percent. The

increase in the cost of benefits was 2.2 percent for the 12-month period ending December 2012, down

from the December 2011 increase of 3.6 percent. Employer costs for health benefits increased

2.8 percent over the year.  In December 2011 the increase was 3.5 percent.

 

Among occupational groups, compensation cost increases for private industry workers for the

12-month period ending December 2012 ranged from 1.7 percent for natural resources, construction, and

maintenance occupations; production, transportation, and material moving occupations; and service

occupations to 2.0 percent for management, professional, and related occupations; and sales and office

occupations.

 

Among industry supersectors, compensation cost increases for private industry workers for the current

12-month period ranged from 1.1 percent for leisure and hospitality to 3.9 percent for information.

 

State and Local Government Workers

 

Compensation costs for state and local government workers increased 1.9 percent for the 12-month

period ending December 2012, higher than the December 2011 increase of 1.3 percent. Values for this

series—which began in June 1982—have ranged from 1.3 percent to 9.6 percent. Wages and salaries

increased 1.1 percent for the 12-month period ending December 2012, essentially unchanged from a year

earlier when the increase was 1.0 percent. Prior values for this series, which also began in June 1982,

ranged from 1.0 percent to 8.5 percent. Benefit costs increased 3.4 percent in December 2012, up from

the December 2011 increase of 2.1 percent.

 

AND 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.

 




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