According to the U.S.
Department of Labor’s Bureau of Labor Statistics (BLS), total compensation
costs for private sector employers rose 0.8 percent in the second quarter of
2006, compared to a rise of 0.6 percent in the previous quarter. Wages and
salaries of private industry workers rose 0.9 percent in the second quarter, compared
to 0.7 percent in the prior quarter. And benefits costs rose 0.7 percent for
the second quarter, following a previous 0.4 percent gain.
Compensation costs
increased more sharply for state and local government workers, rising 1.1
percent from March to June, following a 0.5 percent increase in the first
quarter. Wages and salaries in this sector advanced 0.9 percent during the
March to June period, compared to just 0.4 percent in the prior quarter. Benefits
costs for state and local government workers increased 1.5 percent in the June
quarter, following a more modest gain of 0.7 percent in March. You can read the
full BLS report online at www.bls.gov/news.release/eci.nr0.htm.
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