Following an increase of 1.4% during the first quarter of the year, compensation costs for civilian workers went up another 1.3% in the second quarter, according to the latest report from the U.S. Bureau of Labor Statistics. Wages and salaries rose 1.4% and benefits costs increased 1.2%.
Over the last 12 months ending in June 2022, compensation costs jumped 5.1%, a significant increase from the period ending June 2021 (+2.9%). Wages and salaries went up 5.3% over the latest 12-month period (compared to +3.2% for the period ending June 2021), and benefits costs climbed 4.8% (compared to +2.2% for the period ending June 2021).
Private industry compensation rose 5.5% over the past year (compared to +3.1% for the period ending June 2021), with industry increases ranging from 4.3% (natural resources, construction, and maintenance occupations) to 8.0% (service occupations).
For state and local government employees, compensation costs have gone up 3.4% within the last 12 months (compared to +2.0% for the period ending June 2021).
