The BLS Employment Compensation Index shows a surge in wages and benefits for the third quarter of 2018.

  • Compensation costs for civilian workers increased 0.8 percent, seasonally adjusted, for the 3-month period ending in September 2018.
  • Wages and salaries (which make up about 70 percent of compensation costs) increased 0.9 percent.
  • Benefit costs (which make up the remaining 30 percent of compensation) increased 0.4 percent from June 2018.

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Civilian Workers

  • Compensation costs for civilian workers increased 2.8 percent for the 12-month period ending in September 2018 compared with a compensation costs increase of 2.5 percent in September 2017.
  • Wages and salaries increased 2.9 percent for the 12-month period ending in September 2018 and increased 2.5 percent for the 12-month period ending in September 2017.
  • Benefit costs increased 2.6 percent for the 12-month period ending in September 2018. In September 2017, the increase was 2.4 percent.

Civilian Workers

  • Compensation costs for civilian workers increased 2.8 percent for the 12-month period ending in September 2018 compared with a compensation costs increase of 2.5 percent in September 2017.
  • Wages and salaries increased 2.9 percent for the 12-month period ending in September 2018 and increased 2.5 percent for the 12-month period ending in September 2017.
  • Benefit costs increased 2.6 percent for the 12-month period ending in September 2018. In September 2017, the increase was 2.4 percent.
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Private Industry Workers

  • Compensation costs for private industry workers increased 2.9 percent over the year and increased 2.5 percent in September 2017.
  • Wages and salaries increased 3.1 percent for the 12-month period ending in September 2018 and increased 2.6 percent in September 2017.
  • The cost of benefits rose 2.5 percent for the 12-month period ending in September 2018 and increased 2.4 percent in September 2017.
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Private Industry Workers

  • Compensation costs for private industry workers increased 2.9 percent over the year and increased 2.5 percent in September 2017.
  • Wages and salaries increased 3.1 percent for the 12-month period ending in September 2018 and increased 2.6 percent in September 2017.
  • The cost of benefits rose 2.5 percent for the 12-month period ending in September 2018 and increased 2.4 percent in September 2017.

Mike "Mish" Shedlock

Wages and benefits Surged 0.8 Percent in the First Quarter, Most in a Decade

Employment costs are on the rise. Wages rose 0.9% and benefits rose 0.7% in the first quarter.

Employment Costs Rise 0.7 Percent in the First Quarter: Spotlight on Health Care

Employment costs continue to rise at a steady pace, up 0.7 Percent in the fourth and first quarters.

Employment Cost Index Up 2.8%, Most Since 2008

Employment costs are up 0.6% for three months ending in June and 2.8% from a year ago.

Inflationista Report: Import Prices Surge 1.0%, Export Prices 0.8%

Import and export prices surged again and it's not all energy related. The net GDP effect is negative.

Employer Healthcare Costs Jump to $20,000 - Not Inflation?

A poll of employers by Kaiser Family Foundation found premiums rose 5% for family plans, topping $20,000 for 1st time.

Another Surge in CPI Medical Care Costs

The cost of medical care services jumped 0.9% in August and is up 4.3% from a year ago.

Cass Year-Over-Year Freight Index Sinks to a 12-Year Low

Year-over-year, the Cass shipping index turned in its worst performance since the Great Recession.

Real Wages Decline Year-Over-Year

Wages are not keeping up with consumer price inflation. The average worker is worse off than a year ago.

Third-Quarter GDP Hits Consensus 3.3% Estimate

The BEA reported the second estimate of third-quarter GDP was 3.3%. The report matched the Econoday consensus.