February 01, 2011 (The Editor’s Desk is updated each business day.)
Private industry compensation costs increase 2.1 percent in 2010
Compensation costs for private industry workers increased 2.1 percent for the 12-month period ending December 2010, higher than the 1.2 percent increase for the 12-month period ending December 2009.
[Chart data]
The wage and salary series increased 1.8 percent for the current 12-month period. The change for the period ending December 2009 was 1.3 percent.
The cost of benefits for private industry workers increased 2.9 percent for the 12-month period ending December 2010, higher than the December 2009 increase of 0.9 percent.
Among occupational groups, compensation cost increases for private industry workers for the 12-month period ending December 2010 ranged from 1.5 percent for service occupations to 2.4 percent for production, transportation, and material moving occupations.
Among industry supersectors, compensation cost increases for private industry workers for the current 12-month period ranged from 0.9 percent for construction to 2.8 percent for manufacturing.
These data are from the BLS Employment Cost Trends program. Compensation costs (also known as employment costs) include wages, salaries, and employer costs for employee benefits. For more information, see "Employment Cost Index — December 2010" (HTML) (PDF), news release USDL-11-0086.
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