November 03, 2008
In private industry, compensation costs rose 2.8 percent in the year ended September 2008; the increase for the year ended September 2007 was 3.1 percent.
Private industry wages and salaries increased 2.9 percent in September 2008. In September 2007 the increase was 3.4 percent. Benefit costs increased 2.4 percent in the 12-month period ended September 2008, the same as in the previous period.
Compensation costs (also known as employment costs) include wages, salaries, and employer costs for employee benefits.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Employment costs in private industry, September 2008 on the Internet at http://www.bls.gov/opub/ted/2008/nov/wk1/art01.htm (visited October 24, 2014).
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