From the US Department of Labor this morning –
Compensation costs for private industry workers increased 1.5 percent for the 12-month period ending June 2009.
This is the smallest percent change published for this series since it began in 1980. (italics mine) The deceleration of cost increases was evident in both wages and salaries as well as benefits, registering the smallest increases published in the series history. The wage and salary series, which began in 1975, increased 1.6 percent for the current 12-month period.
DoL goes on to note a slightly different story in health care costs:
The cost of benefits, which has been measured since 1980, increased 1.3 percent for the 12-month period ending June 2009. Employer costs for health benefits increased 4.4 percent for the 12-month period ending June 2009. In June 2008, the 12-month percent change was 4.2 percent.
You listening, Blue Dogs? Senators Baucus, Nelson, et. al.? Or has Health, Inc.’s money made you deaf?