Compensation Costs Up in September 0.3 Percent

The U.S. Bureau of Labor Statistics released the compensation costs for U. S. civilian workers on Friday October 28th. Wages and salaries are up 0.3% or roughly 1/3rd of 1% for the month.  This represents 70% of the total of the cost of maintaining employees. The remaining 30% of the cost comes from benefits and they rose 0.1% over the month.

On an annual basis, employment costs have risen 2.0% for the 12 months ending September 2011. This is compared to an annual inflation rate of 3.87% based on the Bureau of Labor Statistics CPI-U. This is the most widely used measure of inflation. So even though costs rose almost 3.9% wages only rose 2% leaving the average wage earner 1.87% worse off than last year. This of course is not as bad as the nearly 10 of the working population that is currently unemployed.

 

Compensation Costs 9-11

Today’s Headlines

Deserved or Discriminated? 5 Ways Your Work Termination Might Not Be Legitimate

If you were fired by your employer, you may be wondering if you have any legal recourse. In most cases, employment is “at will,” meaning the company may … [Read More...]

5 Ways You Can Build Your Professional Skillset with Certifications

In a competitive job market, making your resume stand out from the crowd could be as simple as earning a certificate or two by passing a few exams. This can … [Read More...]

Tips for Coping with Unemployment

Unemployment is tough, not only are there financial repercussions, but there are psychological ones as well. Getting laid-off no matter whether it is due to … [Read More...]

Only 25% Intend to Retire at Retirement Age

Every two years Gallup does a survey and asks working age adults if they intend to retire once they reach "full retirement age". This is the age set by the … [Read More...]

Unemployment News

BLS Monthly Employment Report for April

The US economy added 160,000 "seasonally adjusted" jobs in April, the lowest figure in the last seven months. The adjusted U-3 unemployment rate remained steady at 5%. The Unadjusted U-3 fell to 4.7% while the … [Read More...]

More Posts from this Category

About Tim McMahon

Work by editor and author, Tim McMahon, has been featured in Bloomberg, CBS News, Wall Street Journal, Christian Science Monitor, Forbes, Washington Post, Drudge Report, The Atlantic, Business Insider, American Thinker, Lew Rockwell, Huffington Post, Rolling Stone, Oakland Press, Free Republic, Education World, Realty Trac, Reason, Coin News, and Council for Economic Education. Connect with Tim on Google+

Speak Your Mind

*