Employment Cost Index-June 1998 — 1998-07-30

The Employment Cost Index (ECI), not seasonally adjusted, for June 1998 was 137.4 (June 1989=100), an increase of 3.5 percent from June 1997, the U.S. Department of Labor's Bureau of Labor Statistics reported today. The ECI measures changes in compensation costs, which include wages, salaries, and employer costs for employee benefits. On a seasonally adjusted basis, compensation costs for civilian workers (private industry plus state and local governments) rose 0.9 percent during the March - June 1998 period. Since September 1991, the three-month increases in compensation costs have ranged from 0.6 percent to 1.0 percent. Wages and salaries increased 0.9 percent during the March - June 1998 period. The increase was 0.8 percent in the December 1997 - March 1998 period. Benefit costs increased 0.8 percent in the March 1998 - June 1998 period, up from 0.4 percent in the December 1997 - March 1998 period. Table A. 3-month percent changes in Employment Cost Index, seasonally adjusted Sep. Dec. Mar.