December 2023 Employment Cost Index — 2024-01-31

Compensation costs for civilian workers increased 0.9 percent, seasonally adjusted, for the 3-month period ending in December 2023, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.9 percent and benefit costs increased 0.7 percent from September 2023. (See tables A, 1, 2, and 3.) Compensation costs for civilian workers increased 4.2 percent for the 12-month period ending in December 2023 and increased 5.1 percent in December 2022. Wages and salaries increased 4.3 percent for the 12-month period ending in December 2023 and increased 5.1 percent for the 12-month period ending in December 2022. Benefit costs increased 3.8 percent over the year and increased 4.9 percent for the 12-month period ending in December 2022. (See tables A, 4, 8, and 12.) Compensation costs for private industry workers increased 4.1 percent over the year. In December 2022, the increase was 5.1 percent.