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WEDNESDAY WORKFACT: Changing Compensation Costs in the Chicago Metropolitan Area — June 2017

Total compensation costs for private industry workers increased 2.8 percent in the Chicago-Naperville-Michigan City, Ill.-Ind.-Wis. metropolitan area for the year ended in June 2017, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Charlene Peiffer noted that a year earlier, Chicago experienced a gain of 1.9 percent in total compensation costs. Locally, wages and salaries, the largest component of total compensation costs, rose 2.8 percent over the 12-month period ended June 2017. Nationwide, total compensation costs and wages and salaries increased 2.4 percent each, over the same period.

Chicago is 1 of 15 metropolitan areas in the United States, and 1 of 3 areas in the Midwest region of the country, for which locality compensation cost data are now available. Among these 15 largest areas, over-the-year percentage increases in total compensation costs ranged from 3.7 percent in Miami-Fort Lauderdale-Pompano Beach, Fla. to 1.9 percent in Washington-Baltimore-Northern Virginia, D.C.-Md.-Va.-W.Va. in June 2017. For wages and salaries, Miami registered the largest annual gain (3.9 percent) among the 15 areas, while wages in Philadelphia-Camden-Vineland, Pa.-N.J.-Del.-Md. registered the smallest annual gain (2.0 percent).

Chicago’s annual increase in total compensation costs in June 2017, at 2.8 percent, compared to gains of 3.0 and 2.1 percent, respectively, in Minneapolis-St. Paul-St. Cloud, Minn.-Wis. and Detroit-Warren-Flint, Mich., the two other metropolitan areas in the Midwest. Chicago’s 2.8-percent increase in wages and salaries over this 12-month period compared to advances of 3.0 percent in Minneapolis and 2.2 percent in Detroit.

Locality compensation costs are part of the national Employment Cost Index (ECI), which measures quarterly changes in compensation costs, which include wages, salaries and employer costs for employee benefits. In addition to the 15 locality estimates provided in this release, ECI data for the nation, 4 geographical regions, and 9 geographical divisions are available.

In addition to the geographic data, a comprehensive national report is available that provides data by industry, occupational group, and union status, as well as for both private and state and local government employees. The release is available on the Internet at www.bls.gov/ncs/ect/home.htm. Current and historical information from other Bureau programs may be accessed via the BLS regional homepage at www.bls.gov/regions/midwest/.

{Source: Bureau of Labor Statistics, U.S. Department of Labor}

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