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Transmission of material in this release is embargoed until USDL-24-1569 8:30 a.m. (ET) Wednesday, July 31, 2024 Technical information: (202) 691-6199 � [email protected] � www.bls.gov/eci Media contact: (202) 691-5902 � [email protected] EMPLOYMENT COST INDEX � JUNE 2024 Compensation costs for civilian workers increased 0.9 percent, seasonally adjusted, for the 3-month period ending in June 2024, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.9 percent and benefit costs increased 1.0 percent from March 2024. (See tables A, 1, 2, and 3.) Compensation costs for civilian workers increased 4.1 percent for the 12-month period ending in June 2024 and increased 4.5 percent in June 2023. Wages and salaries increased 4.2 percent for the 12-month period ending in June 2024 and increased 4.6 percent for the 12-month period ending in June 2023. Benefit costs increased 3.8 percent over the year and increased 4.2 percent for the 12-month period ending in June 2023. (See tables A, 4, 8, and 12.) Compensation costs for private industry workers increased 3.9 percent over the year. In June 2023, the increase was 4.5 percent. Wages and salaries increased 4.1 percent for the 12-month period ending in June 2024 and increased 4.6 percent in June 2023. The cost of benefits increased 3.5 percent for the 12-month period ending in June 2024 and increased 3.9 percent in June 2023. (See tables A, 5, 9, and 12.) Inflation-adjusted (constant dollar) compensation costs for private industry increased 0.9 percent for the 12-month period ending in June 2024. Inflation-adjusted wages and salaries increased 1.1 percent for the 12 months ending June 2024. Inflation-adjusted benefit costs in the private sector increased 0.5 percent over that same period. (See table A.) Within private industry by bargaining status, compensation costs increased 6.0 percent for union workers and 3.6 percent for non-union workers for the 12-month period ending in June 2024. Wages and salaries increased 6.5 percent for union workers and 3.8 percent for non-union workers for the 12-month period ending in June 2024. Benefit costs increased 5.2 percent for union workers and 3.2 percent for non-union workers for the period ending in June 2024. (See tables 6, 10, and 12.) Compensation costs for state and local government workers increased 4.9 percent for the 12-month period ending in June 2024, compared with an increase of 4.9 percent in June 2023. Wages and salaries increased 5.1 percent for the 12-month period ending in June 2024 and increased 4.7 percent a year ago. Benefit costs increased 4.8 percent for the 12-month period ending in June 2024. The prior year�s increase was 5.2 percent. (See tables A, 7, 11, and 12.)
Category | 3-month, seasonally adjusted |
12-month, not seasonally adjusted, current dollar | 12-month, not seasonally adjusted, constant dollar | |||||
---|---|---|---|---|---|---|---|---|
Mar. 2024 |
Jun. 2024 |
Jun. 2023 |
Mar. 2024 |
Jun. 2024 |
Jun. 2023 |
Mar. 2024 |
Jun. 2024 |
|
Civilian workers(1) |
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Compensation(2) |
1.2 | 0.9 | 4.5 | 4.2 | 4.1 | 1.6 | 0.8 | 1.1 |
Wages and salaries |
1.1 | 0.9 | 4.6 | 4.4 | 4.2 | 1.7 | 0.9 | 1.2 |
Benefits |
1.1 | 1.0 | 4.2 | 3.7 | 3.8 | 1.2 | 0.3 | 0.8 |
Private industry |
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Compensation(2) |
1.1 | 0.9 | 4.5 | 4.1 | 3.9 | 1.5 | 0.6 | 0.9 |
Wages and salaries |
1.1 | 0.8 | 4.6 | 4.3 | 4.1 | 1.7 | 0.8 | 1.1 |
Benefits |
1.0 | 0.8 | 3.9 | 3.6 | 3.5 | 0.9 | 0.1 | 0.5 |
Health benefits |
- | - | 2.1 | 2.8 | 3.6 | - | - | - |
State and local government |
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Compensation(2) |
1.3 | 1.2 | 4.9 | 4.8 | 4.9 | 1.9 | 1.3 | 1.9 |
Wages and salaries |
1.4 | 1.1 | 4.7 | 5.0 | 5.1 | 1.7 | 1.5 | 2.0 |
Benefits |
1.2 | 1.4 | 5.2 | 4.5 | 4.8 | 2.1 | 0.9 | 1.8 |
Footnotes |
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Note: All estimates in the table can be found in the public database at www.bls.gov/eci/data.htm. Dashes indicate data not available. |