Benefits and Compensation

BLS: Compensation Costs for Private-Industry Workers Increased 1.9 %

The U.S. Bureau of Labor Statistics (BLS) recently released its figures for compensation costs in 2015.

For private industry workers, compensation costs increased 1.9% over 2015, slowing from an increase of 2.3% in 2014. Wages and salaries (which make up about 70% of compensation costs) increased 2.1% over the 12-month period; in December 2014, the increase was 2.2%

The increase in the cost of benefits (which make up the remaining 30% of compensation) was 1.3% for the 12-month period ending in December 2015, lower than December 2014 when the annual increase was 2.5%.

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