BLS Reports Modest Growth in Compensation, Wages
For civilian workers, compensation costs increased 1.7 percent for the 12-month period ending March 2010. This was less than the 2.1 percent growth for the previous year. Wages and salaries increased by 1.5 percent, which was also less than the previous year's 2.2 percent growth.
For private workers, compensations costs rose 1.6 percent over the 12-month period ending March 2010, as compared to a 1.9 percent increase for the previous year. Wages and salaries increased by 1.5 percent compared to 2 percent for the previous year. Employers costs to provide workers with health benefits rose 4.5 percent for the 12-month period ending March 2010, which was slightly less than the 4.6 percent increase recorded over the previous year.
Compensation costs for private industry workers grew 1.3 percent in management, professional, and related occupations. Those in natural resources, maintenance, and construction occupations saw their compensations rise 2.1 percent.
Professional and business services workers had compensation increases of 1 percent, while financial sector employees had compensation growth of 2.8 percent.
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