Private-Industry Health Benefit Costs Grew More Than Twice as Fast as Wages

Private-industry health-benefit costs climbed at more than double the pace of wages through September, widening the gap between employer spending on coverage and cash compensation for U.S. workers. The Bureau of Labor Statistics (BLS) released the September Employment Cost Index (ECI) at 8:30 a.m. ET Friday, Oct. 30. Over the 12 months ending in September, private-industry wages and salaries rose 3.1%, while health-benefit costs grew 6.4%. Benefits overall increased 3.9%, and total compensation advanced 3.4%.

Source: TokenPost