US Q3 Employment Cost Index: private-industry compensation costs up 3.4%, employer health insurance costs up 6.4%
Key points
- Total private-industry compensation costs rose 3.4% year on year in Q3
- Employer health insurance costs rose 6.4%; benefit costs rose 3.9%, versus 3.1% for wages and salaries
- Real wages fell 0.6%, a second straight quarterly decline
Total compensation costs for US private-industry workers rose 3.4% year on year in Q3, driven by a 6.4% rise in employer health insurance costs, BLS data cited by Indeed Hiring Lab show. Benefit costs rose 3.9% versus 3.1% for wages and salaries. Real wages fell 0.6%, a second straight quarterly decline. Workers' average monthly premiums rose 8.5% for single and 7.6% for family coverage.
Original report: Indeed Hiring Lab ↗Edited with AI assistance. Facts are based on official sources and original reports. For information only; not legal, immigration or insurance advice.