EMPLOYMENT COST INDEX – DECEMBER 2012
The U.S. Bureau of Labor Statistics released their employment cost index for the 2012 year on January 31st, 2013. It included both annual data and information on salary costs for the last quarter for Civilian workers which is composed of two major sectors i.e. Private Industry Workers and State and Local Government Workers. Seasonally adjusted compensation costs for civilian workers for the 3-month period ending December 2012, increased 0.5%. Wages and salaries (which make up about 70% of compensation costs) increased 0.3%, and benefits (which make up the remaining 30% of compensation) increased 0.6%.
Annual Compensation Costs
For the period of January through December 2012, compensation costs for civilian workers [Read more…] about Government Salaries 35% Higher than Private Industry in 2012