[Economic Indicators May, 2002]
[Page Number 15]
[From the U.S. Government Publishing Office, www.gpo.gov]


EMPLOYMENT COST INDEX--PRIVATE INDUSTRY

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                                                    Index (June 1989 = 100)                                 Percent change from
                                             -----------------------------------------------------------------------------------------------------------
                                                                                           3 months earlier                    12 months earlier
                   Period                       Total                            -----------------------------------------------------------------------
                                              compensa-  Wages and  Benefits \1\    Total                               Total
                                                 tion     salaries                compensa-  Wages and  Benefits \1\  compensa-  Wages and  Benefits \1\
                                                                                     tion     salaries                   tion     salaries
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                                                                                        Not seasonally adjusted
 
                                             -----------------------------------------------------------------------------------------------------------
1992:Dec....................................      115.6      112.9        122.2   .........  .........  ............        3.5        2.6          5.2
1993:Dec....................................      119.8      116.4        128.3   .........  .........  ............        3.6        3.1          5.0
1994:Dec....................................      123.5      119.7        133.0   .........  .........  ............        3.1        2.8          3.7
1995:Dec ...................................      126.7      123.1        135.9   .........  .........  ............        2.6        2.8          2.2
1996:Dec....................................      130.6      127.3        138.6   .........  .........  ............        3.1        3.4          2.0
1997:Dec....................................      135.1      132.3        141.8   .........  .........  ............        3.4        3.9          2.3
1998:Dec....................................      139.8      137.4        145.2   .........  .........  ............        3.5        3.9          2.4
1999:Dec....................................      144.6      142.2        150.2   .........  .........  ............        3.4        3.5          3.4
2000:Dec....................................      150.9      147.7        158.6   .........  .........  ............        4.4        3.9          5.6
2001:Dec....................................      157.2      153.3        166.7   .........  .........  ............        4.2        3.8          5.1
                                             -----------------------------------------------------------------------------------------------------------
                                                                        Seasonally adjusted
                                                    Not seasonally adjusted
 
                                             -----------------------------------------------------------------------------------------------------------
1999:Mar....................................      140.2      138.1        145.2         0.3        0.4          0.0         3.0        3.3          2.2
      June..................................      141.8      139.7        146.7         1.1        1.2          1.0         3.3        3.6          2.5
      Sept..................................      143.1      140.9        148.2          .9         .9          1.0         3.1        3.2          2.8
      Dec...................................      144.6      142.3        150.2         1.0        1.0          1.3         3.4        3.5          3.4
 
2000:Mar....................................      146.6      143.9        153.1         1.4        1.1          1.9         4.6        4.2          5.5
      June..................................      148.3      145.4        155.1         1.2        1.0          1.3         4.6        4.1          5.7
      Sept..................................      149.8      146.7        157.0         1.0         .9          1.2         4.6        4.1          6.0
      Dec...................................      151.1      147.9        158.8          .9         .8          1.1         4.4        3.9          5.6
 
2001:Mar....................................      152.8      149.4        160.8         1.1        1.0          1.3         4.2        3.8          5.0
      June..................................      154.3      150.9        162.5         1.0        1.0          1.1         4.0        3.8          4.8
      Sept..................................      155.7      152.0        164.7          .9         .7          1.4         4.0        3.6          4.9
      Dec...................................      157.3      153.4        166.8         1.0         .9          1.3         4.2        3.8          5.1
 
2002:Mar ...................................      158.7      154.8        168.6          .9         .9          1.1         3.9        3.5          4.8
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    \1\ Employer costs for employee 
benefits.

    Note.--The employment cost index 
is a measure of the change in the 
cost of labor, free from the 
influence of employment shifts among 
occupations and industries.
    Data exclude farm and household 
workers.

    Source: Department of Labor, 
    Bureau of Labor Statistics.