WASHINGTON – Total compensation costs, as well as wage and salary costs, for private industry New England workers increased in the three-month and 12-month periods ending in June 2013, according to the U.S. Bureau of Labor Statistics employment cost index, released Wednesday.
Compensation costs, which include wages, salaries, and employer costs for employee benefits, increased 0.9 percent, not seasonally adjusted, for the three-month period. The cost index for wages and salaries, which make up about 70 percent of compensation costs, increased by one percent, not seasonally adjusted, for the same period.
New England private industry workers experienced a 2.2 percent increase in both total compensation and wages and salaries over the year ending in June 2013, according to the index.
Nationally, compensation costs for private industry workers increased 1.9 percent over a 12-month period ending in June 2013. Wages and salaries costs increased by the same percentage from June 2012 to June 2013.
The cost index measures the change in the cost of labor, free from the influence of employment shifts among occupations and industries.