Development Authority of 
Peach County Georgia | 425 James E. Khoury Drive | Unit B | Fort Valley, Georgia 31030 | (478) 825-3826 | peachcountydevelopment@ymail.com

Employment Cost Index News Release

January 31, 2024
U.S. Bureau of Labor Statistics Email



Compensation costs for civilian workers increased 0.9 percent, seasonally adjusted, for the 3-month period ending in December 2023, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.9 percent and benefit costs increased 0.7 percent from September 2023. (See tables A, 1, 2, and 3.)

Compensation costs for civilian workers increased 4.2 percent for the 12-month period ending in December 2023 and increased 5.1 percent in December 2022. Wages and salaries increased 4.3 percent for the 12-month period ending in December 2023 and increased 5.1 percent for the 12-month period ending in December 2022. Benefit costs increased 3.8 percent over the year and increased 4.9 percent for the 12-month period ending in December 2022. (See tables A, 4, 8, and 12.)

Compensation costs for private industry workers increased 4.1 percent over the year. In December 2022, the increase was 5.1 percent. Wages and salaries increased 4.3 percent for the 12-month period ending in December 2023 and increased 5.1 percent in December 2022. The cost of benefits increased 3.6 percent for the 12-month period ending in December 2023 and increased 4.8 percent in December 2022. Inflation-adjusted (constant dollar) compensation costs for private industry increased 0.7 percent for the 12-month period ending in December 2023.Inflation-adjusted wages and salaries increased 0.9 percent for the 12 months ending December 2023. Inflation-adjusted benefit costs in the private sector increased 0.2 percent over that same period. (See tables A, 5, 9, and 12.)

Within the private industry, compensation costs increased 4.5 percent for union workers and 4.0 percent for non-union workers for the 12-month period ending in December 2023. Wages and salaries increased 5.4 percent for union workers and 4.2 percent for non-union workers for the 12-month period ending in December 2023. Benefit costs increased 3.4 percent for union workers and 3.6 percent for non-union workers for the period ending in December 2023. (See tables 6, 10, and 12.)

Compensation costs for state and local government workers increased 4.6 percent for the 12-month period ending in December 2023 and increased 4.8 percent in the 12-month period ending December 2022. Wages and salaries increased 4.7 percent for the 12-month period ending in December 2023 and increased 4.7 percent a year ago. Benefit costs increased 4.6 percent for the 12-month period ending in December 2023. The prior year’s increase was 5.0 percent. (See tables A, 7, 11, and 12.)
 

U.S. BUREAU OF LABOR STATISTICS
Office of Compensation and Working Conditions
PSB Suite 41602 Massachusetts Avenue NE
Washington, DC 20212-0001
Telephone:1-202-691-6199

www.bls.gov/ECI

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Call: (478) 825-3826 or peachcountydevelopment@ymail.com425 James E. Khoury DriveUnit BFort Valley, Georgia 31030