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January 28,2011
The Bureau of Labor Statistics released the data on compensation costs today.
Compensation costs for civilian workers increased 2.0 percent for the 12-month period ending December 2010. The majority of the increase came from an increase in benefits costs, i.e. primarily retirement costs. Benefits costs were up 2.9% compared to a 1.6% increase in wages and salaries.
During the previous year (2009) the increase in compensation costs was 1.4 percent.
October 8, 2010
The Bureau of Labor Statistics released their report for September today. The number of unemployed persons, at 14.8 million, was essentially unchanged in September, and the unemployment rate held at 9.6%.
Among the major worker groups, the unemployment rate for adult men was 9.8%, adult women was 8.0%, teenagers was 26.0%, whites was 8.7%, blacks was 16.1%, and Hispanics was 12.4% showing little or no change in September.
The number of long-term unemployed (those jobless for 27 weeks and over), at 6.1 million, was little changed over the month but was down by 640,000 since a series high of 6.8 million in May. In September, 41.7 % of unemployed persons had been jobless for 27 weeks or more.
Today, the Labor Department reported that nonfarm payrolls (jobs) decreased by 54,000 in August — the third consecutive decline. Today’s chart puts the latest data into perspective by comparing unemployment peaks over the various crisis’ since 1950.
Chart courtesy of Chart of the Day