Workplace
Compensation growth in Seattle area largest in the nation.
By Seattle Business Magazine August 5, 2015
New BLS Data: Seattle area employee compensation costs up 4.3% over the year The latest BLS News Release showing total compensation costs for private industry workers in the Seattle-Tacoma-Olympia metropolitan area is now available online at https://www.bls.gov/regions/west/news-release/employmentcostindex_seattle.htm. This release covers data from the Employment Cost Index, a quarterly survey which measures changes in labor costs…
New BLS Data: Seattle area employee compensation costs up 4.3% over the year
The latest BLS News Release showing total compensation costs for private industry workers in the Seattle-Tacoma-Olympia metropolitan area is now available online at https://www.bls.gov/regions/west/news-release/employmentcostindex_seattle.htm.
This release covers data from the Employment Cost Index, a quarterly survey which measures changes in labor costs (employee wages and employee benefits) over time. Items of note include:
- Local total compensation costs (wages + benefits) for private industry workers increased 4.3% from June 2014 to June 2015, compared to the U.S. average of 1.9%
- Seattle had the largest total compensation % increase among the 15 major metropolitan areas nationwide
- Local wages and salaries increased 3.2% over the year, compared to the U.S. average increase of 2.2%
- Since 2011 employer costs for employee compensation in the Seattle area have risen on average 2.8% annually
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