​Employment Cost Increases

On October 29th, the Bureau of Labor Statistics provided the latest 12-month Employment Cost Index, 

• Wages and salaries increased 4.2 percent for the 12-month period ending in September 2021 and increased 2.5 percent for the 12-month period ending in September 2020.
• Benefit costs increased 2.5 percent over the year and increased 2.3 percent for the 12-month period ending in September 2020. 

Among private industry occupational groups, compensation cost increases ranged from 3.2 percent for management, professional, and related occupations to 6.1 percent for service occupations. Within industry super sectors, compensation cost increases ranged from 3.0 percent for construction to 6.9 percent for leisure and hospitality.