Compensation costs for civilian workers increased 0.9 percent, seasonally adjusted, for the 3-month period ending in December 2023, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.9 percent and benefit costs increased 0.7 percent from September 2023. (See tables A, 1, 2, and 3.) Compensation costs for civilian workers increased 4.2 percent for the 12-month period ending in December 2023 and increased 5.1 percent in December 2022. Wages and salaries increased 4.3 percent for the 12-month period ending in December 2023 and increased 5.1 percent for the 12-month period ending in ... (full story)

Compensation costs for civilian workers, the Employment Cost Index, rose 0.9% in the fourth quarter of 2023, the US Bureau of Labor Statistics reported on Wednesday. This reading followed the 1.1% increase recorded in the previous quarter and came in below the market expectation of 1%. "Compensation costs for civilian workers increased 4.2% for the 12-month period ending in December 2023 and increased 5.1% in December 2022," the BLS noted in its press release. "Wages and salaries increased 4.3% for the 12-month period ending in December 2023 and increased 5.1% for the 12-month period ending in December 202 (full story)