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

Jobs · ORIGINAL ECONOMIC RELEASE

December 2015 Employment Cost Index

Compensation costs for civilian workers increased 0.6 percent, seasonally adjusted, for the 3-month period ending in December 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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Compensation costs for civilian workers increased 0.6 percent, seasonally adjusted, for the 3-month period ending in December 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 0.7 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 December 2015. In December 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 December 2014. Benefit costs increased 1.7 percent for the 12-month period ending in December 2015. In December 2014, the increase was 2.6 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 December 2014 increase of 2.3 percent. Wages and salaries increased 2.1 percent for the current 12- month period. In December 2014, the increase was 2.2 percent. The increase in the cost of benefits was 1.3 percent for the 12-month period ending in December 2015, lower than December 2014 when the increase was 2.5 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 December 2014, the increase was 2.4 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 December 2015 ranged from 1.4 percent for natural resources, construction, and maintenance occupations to 2.6 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 -1.4 percent for information to +2.6 percent for other services, except public administration. (See table 5.)

State and Local Government Workers

Compensation costs for state and local government workers increased 2.5 percent for the 12-month period ending in December 2015. In December 2014, the increase was 2.0 percent. Wages and salaries increased 1.8 percent for the 12-month period ending in December 2015, and in December 2014 the increase was 1.6 percent. Benefit costs increased 3.5 percent in December 2015, higher than in December 2014 when the increase was 2.9 percent. (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 Sept. Dec. Dec. Mar. June Sept. Dec. 2015 2015 2014 2015 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 Jan 29, 2016.

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 earlierDec 30, 2015Publication referenceJan 29, 201630 days laterFeb 28, 2016
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®3.96%Observed 3.79%Observed −17 bps vs. earlier reference3.62%Observed −17 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the TreasuryUnavailableBefore available coverage, which starts Jan 4, 2016.1.94%Observed 1.76%Observed −18 bps vs. publication reference

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

Oct 29, 2015 – Apr 29, 2016
Historical mortgage and Treasury observations around Jan 29, 2016Each 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: 3.76% · 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, 201630-year fixed mortgage: 3.72% · Feb 4, 201630-year fixed mortgage: 3.65% · Feb 11, 201630-year fixed mortgage: 3.65% · Feb 18, 201630-year fixed mortgage: 3.62% · Feb 25, 201630-year fixed mortgage: 3.64% · Mar 3, 201630-year fixed mortgage: 3.68% · Mar 10, 201630-year fixed mortgage: 3.73% · Mar 17, 201630-year fixed mortgage: 3.71% · Mar 24, 201630-year fixed mortgage: 3.71% · Mar 31, 201630-year fixed mortgage: 3.59% · Apr 7, 201630-year fixed mortgage: 3.58% · Apr 14, 201630-year fixed mortgage: 3.59% · Apr 21, 201630-year fixed mortgage: 3.66% · Apr 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, 201610-year Treasury: 1.97% · Feb 1, 201610-year Treasury: 1.87% · Feb 2, 201610-year Treasury: 1.88% · Feb 3, 201610-year Treasury: 1.87% · Feb 4, 201610-year Treasury: 1.86% · Feb 5, 201610-year Treasury: 1.75% · Feb 8, 201610-year Treasury: 1.74% · Feb 9, 201610-year Treasury: 1.71% · Feb 10, 201610-year Treasury: 1.63% · Feb 11, 201610-year Treasury: 1.74% · Feb 12, 201610-year Treasury: 1.78% · Feb 16, 201610-year Treasury: 1.81% · Feb 17, 201610-year Treasury: 1.75% · Feb 18, 201610-year Treasury: 1.76% · Feb 19, 201610-year Treasury: 1.77% · Feb 22, 201610-year Treasury: 1.74% · Feb 23, 201610-year Treasury: 1.75% · Feb 24, 201610-year Treasury: 1.71% · Feb 25, 201610-year Treasury: 1.76% · Feb 26, 201610-year Treasury: 1.74% · Feb 29, 201610-year Treasury: 1.83% · Mar 1, 201610-year Treasury: 1.84% · Mar 2, 201610-year Treasury: 1.83% · Mar 3, 201610-year Treasury: 1.88% · Mar 4, 201610-year Treasury: 1.91% · Mar 7, 201610-year Treasury: 1.83% · Mar 8, 201610-year Treasury: 1.90% · Mar 9, 201610-year Treasury: 1.93% · Mar 10, 201610-year Treasury: 1.98% · Mar 11, 201610-year Treasury: 1.97% · Mar 14, 201610-year Treasury: 1.97% · Mar 15, 201610-year Treasury: 1.94% · Mar 16, 201610-year Treasury: 1.91% · Mar 17, 201610-year Treasury: 1.88% · Mar 18, 201610-year Treasury: 1.92% · Mar 21, 201610-year Treasury: 1.94% · Mar 22, 201610-year Treasury: 1.88% · Mar 23, 201610-year Treasury: 1.91% · Mar 24, 201610-year Treasury: 1.89% · Mar 28, 201610-year Treasury: 1.81% · Mar 29, 201610-year Treasury: 1.83% · Mar 30, 201610-year Treasury: 1.78% · Mar 31, 201610-year Treasury: 1.79% · Apr 1, 201610-year Treasury: 1.78% · Apr 4, 201610-year Treasury: 1.73% · Apr 5, 201610-year Treasury: 1.76% · Apr 6, 201610-year Treasury: 1.70% · Apr 7, 201610-year Treasury: 1.72% · Apr 8, 201610-year Treasury: 1.73% · Apr 11, 201610-year Treasury: 1.79% · Apr 12, 201610-year Treasury: 1.77% · Apr 13, 201610-year Treasury: 1.80% · Apr 14, 201610-year Treasury: 1.76% · Apr 15, 201610-year Treasury: 1.78% · Apr 18, 201610-year Treasury: 1.79% · Apr 19, 201610-year Treasury: 1.85% · Apr 20, 201610-year Treasury: 1.88% · Apr 21, 201610-year Treasury: 1.89% · Apr 22, 201610-year Treasury: 1.91% · Apr 25, 201610-year Treasury: 1.94% · Apr 26, 201610-year Treasury: 1.87% · Apr 27, 201610-year Treasury: 1.84% · Apr 28, 201610-year Treasury: 1.83% · Apr 29, 2016Oct 29, 2015Jan 29, 2016Apr 29, 2016
30-year fixed mortgage27 observations10-year Treasury82 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$1,396.16/month

3.79% · Jan 28, 2016

At the later reference$1,367.31/month

3.62% · Feb 25, 2016

The illustrative principal-and-interest payment is $28.86 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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