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April 30, 2008
Compensation Costs Continue Steady Rise

Compensation costs for private industry rose 0.8 percent from December 2007 to March 2008, after a 0.9-percent increase in the previous quarter, according to a report by the Department of Labor's Bureau of Labor Statistics.

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Wages and salaries for private industry workers increased 0.8 percent for the December 2007 to March 2008 period, the same as in the previous quarter. In state and local government, the increase was 0.7 percent, compared with 0.8 percent in the prior quarter.

Benefit costs for private industry rose 0.6 percent, compared with 0.8 percent in the previous quarter. For state and local government, benefit costs increased 0.3 percent, compared to 1.2 percent in the previous quarter.

For the 12-month period ended March 2008, compensation costs rose 3.2 percent in private industry, the same as for the year ended March 2007.

For state and local government, the increase for the 12-month period ended March 2008 was 3.6 percent, less than the March 2007 increase of 4.6 percent.

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