Inflation-adjusted Wages and Salaries declined 3.3 percent for the 12 months ending March 2022

the staff of the Ridgewood blog

Washington DC, , Compensation costs for civilian workers increased 1.4 percent, seasonally adjusted, for the 3-month period ending in March 2022, the U.S. Bureau of Labor Statistics reported today.

Wages and salaries increased 1.2 percent and benefit costs increased 1.8 percent from December 2021. Compensation costs for civilian workers increased 4.5 percent for the 12-month period ending in March 2022 and increased 2.6 percent in March 2021. Wages and salaries increased 4.7 percent for the 12-month period ending in March 2022 and increased 2.7 percent for the 12-month period ending in March 2021.

Benefit costs increased 4.1 percent over the year and increased 2.5 percent for the 12-month period ending in March 2021. Compensation costs for private industry workers increased 4.8 percent over the year. In March 2021, the increase was 2.8 percent. Wages and salaries increased 5.0 percent for the 12-month period ending in March 2022 and increased 3.0 percent in March 2021. The cost of benefits increased 4.1 percent for the 12-month period ending in March 2022 and increased 2.5 percent in March 2021. Inflation-adjusted (constant dollar) private wages and salaries declined 3.3 percent for the 12 months ending March 2022. Inflation-adjusted benefit costs in the private sector declined 4.0 percent over that same period.