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Employment costs up 4.2 percent for the year

February 01, 2002

Compensation costs in private industry rose 4.2 percent in the year ended December 2001, following increases of 4.4 percent in December 2000 and 3.4 percent in December 1999.

12-month percent changes in Employment Cost Index, private industry workers, not seasonally adjusted, December 1996-December 2001
[Chart data—TXT]

Wages and salaries rose 3.8 percent in private industry for the year ended December 2001, after increasing 3.9 percent in the year ended December 2000.

Benefit costs for private industry workers increased 5.1 percent for the year ended December 2001, compared with an increase of 5.6 percent in December 2000.

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. Learn more in "Employment Cost Index—December 2001," news release USDL 02-046.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Employment costs up 4.2 percent for the year on the Internet at http://www.bls.gov/opub/ted/2002/jan/wk4/art05.htm (visited October 01, 2014).

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