Employment Cost Rises 0.9% in Q2 of 2024

Compensation costs for civilian workers increased 0.9% in the three months ending in June 2024. In the past year, compensation costs rose 4.1%, with wages up 4.2% and benefits up 3.8%. Private industry compensation costs increased 3.9% over the year, with wages up 4.1% and benefits up 3.5%. Inflation-adjusted compensation costs rose 0.9%.

Manufacturing compensation costs rose 0.9% in the three months ending in June 2024 and are up 3.8% in the past 12 months. Wages are up 3.9% and benefits are up 3.6%. Union workers saw a 6% increase in compensation costs, while nonunion workers had a 3.6% increase