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What You Cost Your Employer

One way of looking at rising wages is to directly examine wage data. However, we…

  • November 21, 2018

One way of looking at rising wages is to directly examine wage data. However, we can also look at wages and benefits from the standpoint of what employers are shelling out to keep employees on the payroll.

According to the U.S. Bureau of Labor Statistics, compensation costs for civilian workers increased 0.8 percent, seasonally adjusted, for the 3-month period ending in September 2018, the U.S. Bureau of Labor Statistics reported today.

Wages and salaries (which make up about 70 percent of compensation costs) increased 0.9 percent and benefit costs (which make up the remaining 30 percent of compensation) increased 0.4 percent from June 2018.

Compensation costs for civilian workers increased 2.8 percent for the 12-month period ending in September 2018 compared with a compensation costs increase of 2.5 percent in September 2017.

Wages and salaries increased 2.9 percent for the 12-month period ending in September 2018 and increased 2.5 percent for the 12-month period ending in September 2017. Benefit costs increased 2.6 percent for the 12-month period ending in September 2018. In September 2017, the increase was 2.4 percent.

These numbers track with wage data, indicating that worker pay gains have picked up a bit in recent months.

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