BREAKING NEWS: Worker Compensation Continues to Rise, But More Slowly

Workers were paid 0.9 percent more in the fourth quarter of 2023 than the third quarter.

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You’re just getting started. Access compliance alerts, tools and more. JOIN NOW       Worker Compensation Continues to Rise, But More Slowly   Compensation for U.S. workers picked up again in the final quarter of 2023, but in one of the smallest increases in months—a sign that aggressive wage growth is cooling. Workers were paid 0.9 percent more in the fourth quarter of 2023 than the third quarter, according to the Employment Cost Index, released today by the U.S. Bureau of Labor Statistics. That's down from the 1.1 percent climb seen in the third quarter. Wages and salaries increased 0.9 percent and benefit costs increased 0.7 percent from September 2023. Year-over-year, compensation costs in the U.S. for private sector workers—including pay and benefits—rose 4.1 percent.   READ MORE   Advertisement     Better HR Data and Reporting = Better Business Outcomes HR teams that use employee data are 10x more likely to be effective at providing insights to top leaders. When data showing the impact of HR is regularly reported on, 56% of executives say it impacts the organization's management strategy quite a bit or a lot. Free Guide       Connect with us on social!              1800 Duke Street, Alexandria, Virginia 22314 USA Contact Us | shrm.org This email was sent to manojdole1.Architectural@blogger.com. This email may contain advertisements. Unsubscribe or Change Email Preferences | Terms of Use | Privacy Policy © 2024 SHRM. All rights reserved.