«   |   »

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

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+