Wednesday, November 11, 2026Mortgage news · Rates & market context

Jobs · ORIGINAL ECONOMIC RELEASE

June 2015 Employment Cost Index

Compensation costs for civilian workers was little changed at 0.2 percent, seasonally adjusted, for the 3-month period ending June 2015, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70…

Historical releaseThe figures below describe the original reporting period. They are not today’s rates or a current economic forecast.Today’s market brief →

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Compensation costs for civilian workers was little changed at 0.2 percent, seasonally adjusted, for the 3-month period ending June 2015, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent of compensation costs) was also little changed at 0.2 percent, and benefits (which make up the remaining 30 percent of compensation) was little changed at 0.1 percent. (See chart 1 and tables 1, 2, and 3.)

Civilian Workers

Compensation costs for civilian workers increased 2.0 percent for the 12-month period ending June 2015, unchanged from the 12-month period ending June 2014. Wages and salaries increased 2.1 percent for the current 12-month period. In June 2014 the change was 1.8 percent. Benefit costs increased 1.8 percent for the 12-month period ending June 2015. In June 2014 the increase was 2.5 percent. (See chart 2 and tables 4, 8, and 12.)

Private Industry Workers

Compensation costs for private industry workers increased 1.9 percent over the year, about unchanged from the previous year when the increase was 2.0 percent. Wages and salaries increased 2.2 percent for the current 12-month period. The increase for the period ending June 2014 was 1.9 percent. The increase in the cost of benefits was 1.4 percent for the 12-month period ending June 2015. This was lower than a year earlier when the increase was 2.4 percent. (See charts 3 and 4 and tables 5, 9, and 12.) Employer costs for health benefits increased 2.8 percent over the year. In June 2014 the increase was 2.7 percent. (For further information, see www.bls.gov/web/eci/echealth.pdf.)

Among occupational groups, compensation cost increases for private industry workers for the 12-month period ending June 2015 ranged from 1.7 percent for natural resources, construction, and maintenance occupations to 2.5 percent for production, transportation, and material moving occupations. (See table 5.)

Among industry supersectors, compensation cost changes for private industry workers for the current 12-month period ranged from -1.6 percent for information to 2.5 percent for manufacturing. (See table 5.)

State and Local Government Workers

Compensation costs for state and local government workers increased 2.2 percent for the 12-month period ending June 2015. In June 2014 the increase was 2.0 percent. Wages and salaries increased 1.9 percent for the 12-month period ending June 2015, higher than a year earlier when the increase was 1.3 percent. Benefit costs increased 2.7 percent in June 2015. In June 2014 the increase was 3.2 percent. (See chart 5 and tables 7, 11, and 12.)

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Category 3-month, 12-month, seasonally adjusted not seasonally adjusted Mar. June June Sept. Dec. Mar. June 2015 2015 2014 2014 2014 2015 2015

CIVILIAN WORKERS[1]

PRIVATE INDUSTRY

STATE AND LOCAL GOVERNMENT

[1] Includes private industry and State and local government. [2] Includes wages and salaries and benefits.

Source: U.S. Bureau of Labor Statistics · Original release Jul 31, 2015.

Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.

MortgageRates.news analysis · Historical context

The mortgage market around this release

This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.

Read compensation costs separately from job growth

The Employment Cost Index tracks changes in employers’ hourly compensation costs, including wages, salaries and benefits. Its fixed employment weights limit the effect of shifts between industries and occupations; it does not count newly created jobs. Compare wage and benefit components, and check whether the quoted change is for three months or twelve months and whether it is seasonally adjusted. Compensation trends are one part of the inflation and policy picture, without determining a particular mortgage rate. BLS Employment Cost Index.

Nearest published observation on or before each target date
Benchmark30 days earlierJul 1, 2015Publication referenceJul 31, 201530 days laterAug 30, 2015
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.02%Observed 3.98%Observed −4 bps vs. earlier reference3.84%Observed −14 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the TreasuryUnavailableBefore available coverage, which starts Jan 4, 2016.UnavailableBefore available coverage, which starts Jan 4, 2016.UnavailableBefore available coverage, which starts Jan 4, 2016.

Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.

Six months around publication

Apr 30, 2015 – Oct 31, 2015
Historical mortgage and Treasury observations around Jul 31, 2015Each dot is a published observation. No missing values are estimated. The dashed vertical line marks the article’s publication calendar date. Rates and yields are percentages.3.50%4.00%4.50%Publication date30-year fixed mortgage: 3.68% · Apr 30, 201530-year fixed mortgage: 3.80% · May 7, 201530-year fixed mortgage: 3.85% · May 14, 201530-year fixed mortgage: 3.84% · May 21, 201530-year fixed mortgage: 3.87% · May 28, 201530-year fixed mortgage: 3.87% · Jun 4, 201530-year fixed mortgage: 4.04% · Jun 11, 201530-year fixed mortgage: 4.00% · Jun 18, 201530-year fixed mortgage: 4.02% · Jun 25, 201530-year fixed mortgage: 4.08% · Jul 2, 201530-year fixed mortgage: 4.04% · Jul 9, 201530-year fixed mortgage: 4.09% · Jul 16, 201530-year fixed mortgage: 4.04% · Jul 23, 201530-year fixed mortgage: 3.98% · Jul 30, 201530-year fixed mortgage: 3.91% · Aug 6, 201530-year fixed mortgage: 3.94% · Aug 13, 201530-year fixed mortgage: 3.93% · Aug 20, 201530-year fixed mortgage: 3.84% · Aug 27, 201530-year fixed mortgage: 3.89% · Sep 3, 201530-year fixed mortgage: 3.90% · Sep 10, 201530-year fixed mortgage: 3.91% · Sep 17, 201530-year fixed mortgage: 3.86% · Sep 24, 201530-year fixed mortgage: 3.85% · Oct 1, 201530-year fixed mortgage: 3.76% · Oct 8, 201530-year fixed mortgage: 3.82% · Oct 15, 201530-year fixed mortgage: 3.79% · Oct 22, 201530-year fixed mortgage: 3.76% · Oct 29, 2015Apr 30, 2015Jul 31, 2015Oct 31, 2015
30-year fixed mortgage27 observations
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.

What that benchmark difference would mean for a $300,000 loan

At the publication reference$1,428.79/month

3.98% · Jul 30, 2015

At the later reference$1,404.71/month

3.84% · Aug 27, 2015

The illustrative principal-and-interest payment is $24.08 lower per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.

Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.

Sources, historical coverage and calculation limits

The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.

Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.

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