Employers See Steady Increase in Compensation Costs

The U.S. Bureau of Labor Statistics reported this week that compensation costs for private industry workers increased 2.7% over the year, compared to an increase of 2.9% in September 2018. Wages and salaries increased 3.0% for the 12-month period ending in September 2019, while the cost of benefits rose 2.0%. Employer costs for health benefits increased 2.0% for the same one-year period. 10/31/2019