Compensation costs for the private sector rose 0.9 percent from June to September
2004, after advancing 1.0 percent in the prior quarter, the Bureau of Labor
Statistics of the U.S. Department of Labor reported.
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moderated to 0.5 percent in September, compared with a gain of 1.1 percent for
the quarter ended in June.
Private sector benefit costs rose 1.0 percent for the September quarter, moderating
from the 1.7 percent gain in the previous quarter. Benefit costs for state and
local governments increased 1.4 percent in the September quarter, following
an increase of 1.9 percent in June 2004.
Wages and salaries for private industry workers rose 0.9 percent for the September
quarter, following a more modest 0.6 percent gain during the prior period. Wage
and salary gains in wholesale trade led the increase, while the retail trade
industry and service occupations had smaller gains. The change in state and
local government wages and salaries was 0.1 percent during the June-to-September
period.
For the year ended September 2004, compensation costs in private industry increased
4.6 percent for goods-producing industries, nearly identical to the advance
of 4.5 percent for the year ended September 2003. Compensation costs for manufacturing
advanced 5.0 percent in September 2004, after increasing 4.7 percent in September
2003. Gains in compensation costs for construction were 2.9 percent in September
2004, compared with a 3.8 percent rise in September 2003.