State:
Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
July 28, 2005
Compensation Costs Rise at Faster Pace

Total compensation costs for the private sector rose 0.8 percent in the second quarter, after advancing 0.6 percent in the previous quarter, the Bureau of Labor Statistics of the U.S. Department of Labor reported.

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

Wages and salaries of workers in the private industry rose 0.9 percent in the June quarter, up from an increase of 0.7 percent in the prior quarter.

For state and local government workers, compensation costs increased sharply, rising 1.1 percent from March to June after increasing 0.5 percent in the first quarter. Wages and salaries in state and local government advanced 0.9 percent during the March to June period, higher than the 0.4 percent gain in the prior quarter.

Benefits costs in the private sector rose 0.7 percent for the June quarter, following a 0.4 percent gain in the previous quarter. Benefit 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.

For the year ended June 2006, compensation costs increased 2.3 percent for goods-producing industries, sharply lower than the increase of 3.8 percent for the year ended June 2005.

The rise in compensation costs for manufacturing moderated for the year ending June 2006, advancing 1.9 percent compared with the 3.7 percent gain in June 2005. Compensation costs for construction rose 3.5 percent in June 2006, compared with a 3.2 percent gain in June 2005.

The over-the-year increase for June 2006 in compensation for service-providing industries was 2.9 percent, unchanged from the year ended June 2005.

Featured Free Resource:
Cost Per Hire Calculator
   
   
 
 
Twitter  Facebook  Linked In
Follow Us
CT-WEB02
Copyright © 2016 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on http://Compensation.BLR.com
Document URL: http://compensation.blr.com/Compensation-news/HR-Administration/Employment-Statistics/Compensation-Costs-Rise-at-Faster-Pace-158864/