Compensation Costs for Private Industry Workers up 5.5 Percent from June 2021 to June 2022

Compensation costs for private industry workers increased 5.5% from June 2021 to June 2022. Wages and salaries rose 5.7% over this period, while the costs of benefits increased 5.3%. For state and local government workers, compensation costs increased 3.4% from June 2021 to June 2022.

For the year ended June 2022, among major industries, percent change increases occurred in wages and salaries for trade, transportation, and utilities (6.6%), professional and business services (5.4%), and education and health services (5.7%).

From June 2021 to June 2022, wages and salaries for private industry workers rose 8.2% in leisure and hospitality, down from 9.0% for the year ended in March 2022. Wages and salaries increased by less than 5.0% for the year ended June 2022 in construction (4.4%), manufacturing (4.9%), information (4.3%), and financial activities (4.6%).