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

Jobs · ORIGINAL ECONOMIC RELEASE

September 2015 Employment Cost Index

Compensation costs for civilian workers increased 0.6 percent, seasonally adjusted, for the 3-month period ending in September 2015, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent…

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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Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

Compensation costs for civilian workers increased 0.6 percent, seasonally adjusted, for the 3-month period ending in September 2015, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.6 percent, and benefits (which make up the remaining 30 percent of compensation) increased 0.5 percent. (See chart 1 and tables A, 1, 2, and 3.)

Civilian Workers

Compensation costs for civilian workers increased 2.0 percent for the 12-month period ending in September 2015. In September 2014, compensation costs increased 2.2 percent. Wages and salaries increased 2.1 percent for the current 12-month period, unchanged from the 12-month period ending in September 2014. Benefit costs increased 1.8 percent for the 12-month period ending in September 2015. In September 2014, the increase was 2.4 percent. (See chart 2 and tables A, 4, 8, and 12.)

Private Industry Workers

Compensation costs for private industry workers increased 1.9 percent over the year, slowing from the previous year’s increase of 2.3 percent. Wages and salaries increased 2.1 percent for the current 12- month period. The increase for the 12-month period ending in September 2014 was 2.3 percent. The increase in the cost of benefits was 1.4 percent for the 12-month period ending in September 2015, lower than a year earlier when the increase was 2.3 percent. (See charts 3 and 4 and tables A, 5, 9, and 12.)

Employer costs for health benefits increased 3.0 percent over the year. In September 2014, the increase was 2.6 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 in September 2015 ranged from 1.5 percent for natural resources, construction, and maintenance to 2.3 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 -1.1 percent for information to 2.4 percent for trade, transportation, and utilities. (See table 5.)

State and Local Government Workers

Compensation costs for state and local government workers increased 2.3 percent for the 12-month period ending in September 2015. In September 2014, the increase was 2.1 percent. Wages and salaries increased 1.8 percent for the 12-month period ending in September 2015, and a year earlier the increase was 1.6 percent. Benefit costs increased 3.0 percent in September 2015, unchanged from the 12-month period ending in September 2014. (See chart 5 and tables A, 7, 11, and 12.)

BLS news releases, including the ECI, are available through an e-mail subscription service at: www.bls.gov/bls/list.htm.

Category 3-month, 12-month, seasonally adjusted not seasonally adjusted June Sept. Sept. Dec. Mar. June Sept. 2015 2015 2014 2014 2015 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 Oct 30, 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 earlierSep 30, 2015Publication referenceOct 30, 201530 days laterNov 29, 2015
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®3.86%Observed 3.76%Observed −10 bps vs. earlier reference3.95%Observed +19 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

Jul 30, 2015 – Jan 30, 2016
Historical mortgage and Treasury observations around Oct 30, 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.1.50%3.00%4.50%Publication date30-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, 201530-year fixed mortgage: 3.87% · Nov 5, 201530-year fixed mortgage: 3.98% · Nov 12, 201530-year fixed mortgage: 3.97% · Nov 19, 201530-year fixed mortgage: 3.95% · Nov 25, 201530-year fixed mortgage: 3.93% · Dec 3, 201530-year fixed mortgage: 3.95% · Dec 10, 201530-year fixed mortgage: 3.97% · Dec 17, 201530-year fixed mortgage: 3.96% · Dec 24, 201530-year fixed mortgage: 4.01% · Dec 31, 201530-year fixed mortgage: 3.97% · Jan 7, 201630-year fixed mortgage: 3.92% · Jan 14, 201630-year fixed mortgage: 3.81% · Jan 21, 201630-year fixed mortgage: 3.79% · Jan 28, 201610-year Treasury: 2.24% · Jan 4, 201610-year Treasury: 2.25% · Jan 5, 201610-year Treasury: 2.18% · Jan 6, 201610-year Treasury: 2.16% · Jan 7, 201610-year Treasury: 2.13% · Jan 8, 201610-year Treasury: 2.17% · Jan 11, 201610-year Treasury: 2.12% · Jan 12, 201610-year Treasury: 2.08% · Jan 13, 201610-year Treasury: 2.10% · Jan 14, 201610-year Treasury: 2.03% · Jan 15, 201610-year Treasury: 2.06% · Jan 19, 201610-year Treasury: 2.01% · Jan 20, 201610-year Treasury: 2.02% · Jan 21, 201610-year Treasury: 2.07% · Jan 22, 201610-year Treasury: 2.03% · Jan 25, 201610-year Treasury: 2.01% · Jan 26, 201610-year Treasury: 2.02% · Jan 27, 201610-year Treasury: 2.00% · Jan 28, 201610-year Treasury: 1.94% · Jan 29, 2016Jul 30, 2015Oct 30, 2015Jan 30, 2016
30-year fixed mortgage27 observations10-year Treasury19 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$1,391.05/month

3.76% · Oct 29, 2015

At the later reference$1,423.61/month

3.95% · Nov 25, 2015

The illustrative principal-and-interest payment is $32.56 higher 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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