Option Millionaires

[uranium-pinto-beans]

The Q1 Employment Cost Index increased 1.2%, seasonally adjusted, for the three-month period ending in March 2023 (Briefing.com consensus 1.1%) following a revised 1.1% increase (from 1.0%) for the three-month period ending in December 2022. Wages and salaries, which account for about 70% of compensation costs, increased 1.2% following a revised 1.2% increase (from 1.0%).

The key takeaway from the report is that labor costs didn't show any meaningful signs of deceleration. On a 12-month basis, compensation costs for civilian workers increased 4.8% versus 4.5% in March 2022 while benefit costs increased 4.5% versus 4.1% in March 2022. Wages and salaries were up 5.0% versus 4.7% in March 2022.

Compensation costs for private industry workers rose 4.8% for the 12-month period ending in March 2023, unchanged from the 12-month period ending in March 2022. Wages and salaries increased 5.1% for the 12-month period ending March 2023 versus 5.0% for March 2022. Benefit costs increased 4.3% for the 12-month period ending in March 2023 versus 4.1% for March 2022.
Compensation costs for state and local government workers rose 4.9% for the 12-month period ending in March 2023 versus 3.2% for March 2022. Wages and salaries increased 4.7% for the 12-month period ending March 2023 versus 3.1% for March 2022. Benefit costs increased 5.0% for the 12-month period ending March 2023 versus 3.5% for March 2022.