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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 693-4650
Today's Employment Cost Index figures indicate that workers
continue to share in our nation's prosperity with rising compensation.
For the year ended December 1999, the Employment Cost Index
for private sector workers rose 3.4 percent, in line with increases of 3.5
percent in December 1998 and 3.4 percent in December 1997.
Wage and salary costs increased 3.5 percent in 1999, down
slightly from 3.9 percent during the previous two years. With a 2.7 percent
increase in the Consumer Price Index during 1999, this translates into a real
wage gain of 0.8 percent.
For the year ended December 1999, private sector benefit
costs increased 3.4 percent, up from 2.4 percent the year earlier. The jump was
driven by increases in employer-paid health insurance premiums and employer
contributions to defined-benefit plans and supplemental pay.
Archived News Release--Caution:
information may be out of date.
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