POLITICAL ECONOMY

US: Compensation Costs For Civilian Workers Rise-Labour Bureau

By Godson Umejiego, Correspondent USA

Compensation costs for civilian workers in the United States of America rose  0.7 per cent, seasonally adjusted, for the 3-month period ending in June 2021, the US Bureau of Labour Statistics reported Friday.

Wages and salaries increased 0.9 per cent and benefit costs increased 0.4 per cent from March 2021.

Employer costs for health benefits increased 0.4 per cent for the 12-month period ending in June  2021.

Among private industry occupational groups, compensation cost increases for the 12-month period  ending in June 2021 ranged from 2.4 per cent for management, professional, and related occupations to 4.8 per cent for service occupations. Within industry supersectors, compensation cost increases  ranged from 2.6 per cent for both manufacturing and professional and business services to 5.5 per cent for leisure and hospitality.

Compensation costs for state and local government workers increased 2.0 per cent for the 12-month  period ending in June 2021, compared with an increase of 2.7 per cent in June 2020. Wages and  salaries increased 1.6 per cent for the 12-month period ending in June 2021 and 2.6 per cent a year ago. Benefit costs increased 2.6 per cent for the 12-month period ending in June 2021. The prior  year increase was 3.1 per cent.

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