[Economic Indicators July, 2008]
[Page Number 15]
[From the U.S. Government Publishing Office, www.gpo.gov]


EMPLOYMENT COST INDEX--PRIVATE INDUSTRY

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                                                  Index (December 2005 = 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
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                        Not seasonally adjusted
 
                                             -----------------------------------------------------------------------------------------------------------
1998:Dec ...................................       77.5       80.6         70.2   .........  .........  ............        3.5        3.9          2.5
1999:Dec ...................................       80.2       83.5         72.6   .........  .........  ............        3.5        3.6          3.4
2000:Dec ...................................       83.6       86.7         76.7   .........  .........  ............        4.2        3.8          5.6
2001:Dec ...................................       87.3       89.9         81.3   .........  .........  ............        4.1        3.8          5.2
2002:Dec ...................................       90.0       92.2         84.7   .........  .........  ............        3.1        2.6          4.2
2003:Dec ...................................       93.6       95.1         90.2   .........  .........  ............        4.0        3.1          6.5
2004:Dec ...................................       97.2       97.6         96.2   .........  .........  ............        3.8        2.6          6.7
2005:Dec ...................................      100.0      100.0        100.0   .........  .........  ............        2.9        2.5          4.0
2006:Dec ...................................      103.2      103.2        103.1   .........  .........  ............        3.2        3.2          3.1
2007:Dec ...................................      106.3      106.6        105.6   .........  .........  ............        3.0        3.3          2.4
                                             -----------------------------------------------------------------------------------------------------------
                                                                        Seasonally adjusted
                                                    Not seasonally adjusted
 
                                             -----------------------------------------------------------------------------------------------------------
 
2005:June ..................................       98.8       98.8         98.8         0.6        0.5          0.8         3.1        2.5          4.7
      Sept .................................       99.5       99.4         99.7          .7         .6           .9         2.9        2.3          4.5
      Dec ..................................      100.2      100.1        100.3          .7         .7           .6         2.9        2.5          4.0
 
2006:Mar ...................................      100.8      100.8        100.8          .6         .7           .5         2.6        2.4          3.0
      June .................................      101.6      101.6        101.6          .8         .8           .8         2.8        2.8          2.7
      Sept .................................      102.5      102.5        102.5          .9         .9           .9         3.0        3.0          2.8
      Dec ..................................      103.3      103.3        103.4          .8         .8           .9         3.2        3.2          3.1
 
2007:Mar ...................................      104.0      104.3        103.1          .7        1.0          -.3         3.2        3.6          2.2
      June .................................      104.8      105.1        104.2          .8         .8          1.1         3.1        3.3          2.6
      Sept .................................      105.6      105.9        105.0          .8         .8           .8         3.1        3.4          2.4
      Dec ..................................      106.5      106.7        105.8          .9         .8           .8         3.0        3.3          2.4
 
2008:Mar ...................................      107.3      107.6        106.4          .8         .8           .6         3.2        3.2          3.2
      June .................................      107.9      108.4        106.9          .6         .7           .5         3.0        3.1          2.6
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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.
    Data beginning 2001 are based on 
the 2002 North American Industry 
Classification (NAICS); data prior 
to 2001 are based on the Standard 
Industrial Classification (SIC). For 
details on industry classification 
and other details see Employment 
Cost Index, release dated April 28, 
2006.

    Source: Department of Labor, 
Bureau of Labor Statistics.