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Jobs · ORIGINAL ECONOMIC RELEASE

June 2017 Employment Cost Index

Compensation costs for civilian workers increased 0.5 percent, seasonally adjusted, for the 3-month period ending in June 2017, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent of…

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 0.5 percent, seasonally adjusted, for the 3-month period ending in June 2017, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.5 percent, and benefits (which make up the remaining 30 percent of compensation) increased 0.6 percent. (See chart 1 and tables A, 1, 2, and 3.)

Civilian Workers

Compensation costs for civilian workers increased 2.4 percent for the 12-month period ending in June 2017. In June 2016, compensation costs increased 2.3 percent. Wages and salaries increased 2.3 percent for the current 12-month period and increased 2.5 percent for the 12-month period ending in June 2016. Benefit costs increased 2.5 percent for the 12-month period ending in June 2017. In June 2016, the increase was 2.0 percent. (See chart 2 and tables A, 4, 8, and 12.)

Private Industry Workers

Compensation costs for private industry workers increased 2.4 percent over the year. In June 2016, the increase was the same. Wages and salaries increased 2.4 percent for the current 12-month period. In June 2016, the increase was 2.6 percent. The cost of benefits rose 2.2 percent for the 12-month period ending in June 2017, higher than the 1.7 percent increase in June 2016. (See charts 3 and 4 and tables A, 5, 9, and 12.)

Employer costs for health benefits increased 1.2 percent for the 12-month period ending in June 2017. ( 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 June 2017 ranged from 1.7 percent for sales and office occupations to 2.9 percent for service occupations. (See table 5.)

Among industry supersectors, compensation cost increases for private industry workers for the 12- month period ending in June 2017 ranged from 1.8 percent for professional and business services to 3.9 percent for leisure and hospitality. (See table 5.)

State and Local Government Workers

Compensation costs for state and local government workers increased 2.6 percent for the 12-month period ending in June 2017. In June 2016, the increase was 2.3 percent. Wages and salaries increased 2.1 percent for the 12-month period ending in June 2017, higher than the June 2016 increase of 1.7 percent. Benefit costs increased 3.2 percent for the 12-month period ending in June 2017. The prior year’s increase was 3.4 percent. (See chart 5 and tables A, 7, 11, and 12.)

Category 3-month, 12-month, seasonally adjusted not seasonally adjusted Mar. June June Sept. Dec. Mar. June 2017 2017 2016 2016 2016 2017 2017

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.

The Employment Cost Index for September 2017 is scheduled for release on Tuesday, October 31, 2017, at 8:30 a.m. (EDT).

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

Source: U.S. Bureau of Labor Statistics · Original release Jul 28, 2017.

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 earlierJun 28, 2017Publication referenceJul 28, 201730 days laterAug 27, 2017
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®3.90%Observed 3.92%Observed +2 bps vs. earlier reference3.86%Observed −6 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury2.22%Observed 2.30%Observed +8 bps vs. earlier reference2.17%Observed −13 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

Apr 28, 2017 – Oct 28, 2017
Historical mortgage and Treasury observations around Jul 28, 2017Each 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.2.00%3.25%4.50%Publication date30-year fixed mortgage: 4.02% · May 4, 201730-year fixed mortgage: 4.05% · May 11, 201730-year fixed mortgage: 4.02% · May 18, 201730-year fixed mortgage: 3.95% · May 25, 201730-year fixed mortgage: 3.94% · Jun 1, 201730-year fixed mortgage: 3.89% · Jun 8, 201730-year fixed mortgage: 3.91% · Jun 15, 201730-year fixed mortgage: 3.90% · Jun 22, 201730-year fixed mortgage: 3.88% · Jun 29, 201730-year fixed mortgage: 3.96% · Jul 6, 201730-year fixed mortgage: 4.03% · Jul 13, 201730-year fixed mortgage: 3.96% · Jul 20, 201730-year fixed mortgage: 3.92% · Jul 27, 201730-year fixed mortgage: 3.93% · Aug 3, 201730-year fixed mortgage: 3.90% · Aug 10, 201730-year fixed mortgage: 3.89% · Aug 17, 201730-year fixed mortgage: 3.86% · Aug 24, 201730-year fixed mortgage: 3.82% · Aug 31, 201730-year fixed mortgage: 3.78% · Sep 7, 201730-year fixed mortgage: 3.78% · Sep 14, 201730-year fixed mortgage: 3.83% · Sep 21, 201730-year fixed mortgage: 3.83% · Sep 28, 201730-year fixed mortgage: 3.85% · Oct 5, 201730-year fixed mortgage: 3.91% · Oct 12, 201730-year fixed mortgage: 3.88% · Oct 19, 201730-year fixed mortgage: 3.94% · Oct 26, 201710-year Treasury: 2.29% · Apr 28, 201710-year Treasury: 2.33% · May 1, 201710-year Treasury: 2.29% · May 2, 201710-year Treasury: 2.33% · May 3, 201710-year Treasury: 2.36% · May 4, 201710-year Treasury: 2.36% · May 5, 201710-year Treasury: 2.39% · May 8, 201710-year Treasury: 2.42% · May 9, 201710-year Treasury: 2.41% · May 10, 201710-year Treasury: 2.39% · May 11, 201710-year Treasury: 2.33% · May 12, 201710-year Treasury: 2.34% · May 15, 201710-year Treasury: 2.33% · May 16, 201710-year Treasury: 2.22% · May 17, 201710-year Treasury: 2.23% · May 18, 201710-year Treasury: 2.23% · May 19, 201710-year Treasury: 2.25% · May 22, 201710-year Treasury: 2.29% · May 23, 201710-year Treasury: 2.26% · May 24, 201710-year Treasury: 2.25% · May 25, 201710-year Treasury: 2.25% · May 26, 201710-year Treasury: 2.21% · May 30, 201710-year Treasury: 2.21% · May 31, 201710-year Treasury: 2.21% · Jun 1, 201710-year Treasury: 2.15% · Jun 2, 201710-year Treasury: 2.18% · Jun 5, 201710-year Treasury: 2.14% · Jun 6, 201710-year Treasury: 2.18% · Jun 7, 201710-year Treasury: 2.19% · Jun 8, 201710-year Treasury: 2.21% · Jun 9, 201710-year Treasury: 2.21% · Jun 12, 201710-year Treasury: 2.21% · Jun 13, 201710-year Treasury: 2.15% · Jun 14, 201710-year Treasury: 2.16% · Jun 15, 201710-year Treasury: 2.16% · Jun 16, 201710-year Treasury: 2.19% · Jun 19, 201710-year Treasury: 2.16% · Jun 20, 201710-year Treasury: 2.16% · Jun 21, 201710-year Treasury: 2.15% · Jun 22, 201710-year Treasury: 2.15% · Jun 23, 201710-year Treasury: 2.14% · Jun 26, 201710-year Treasury: 2.21% · Jun 27, 201710-year Treasury: 2.22% · Jun 28, 201710-year Treasury: 2.27% · Jun 29, 201710-year Treasury: 2.31% · Jun 30, 201710-year Treasury: 2.35% · Jul 3, 201710-year Treasury: 2.33% · Jul 5, 201710-year Treasury: 2.37% · Jul 6, 201710-year Treasury: 2.39% · Jul 7, 201710-year Treasury: 2.38% · Jul 10, 201710-year Treasury: 2.37% · Jul 11, 201710-year Treasury: 2.33% · Jul 12, 201710-year Treasury: 2.35% · Jul 13, 201710-year Treasury: 2.33% · Jul 14, 201710-year Treasury: 2.31% · Jul 17, 201710-year Treasury: 2.27% · Jul 18, 201710-year Treasury: 2.27% · Jul 19, 201710-year Treasury: 2.27% · Jul 20, 201710-year Treasury: 2.24% · Jul 21, 201710-year Treasury: 2.26% · Jul 24, 201710-year Treasury: 2.33% · Jul 25, 201710-year Treasury: 2.29% · Jul 26, 201710-year Treasury: 2.32% · Jul 27, 201710-year Treasury: 2.30% · Jul 28, 201710-year Treasury: 2.30% · Jul 31, 201710-year Treasury: 2.26% · Aug 1, 201710-year Treasury: 2.27% · Aug 2, 201710-year Treasury: 2.24% · Aug 3, 201710-year Treasury: 2.27% · Aug 4, 201710-year Treasury: 2.26% · Aug 7, 201710-year Treasury: 2.29% · Aug 8, 201710-year Treasury: 2.24% · Aug 9, 201710-year Treasury: 2.20% · Aug 10, 201710-year Treasury: 2.19% · Aug 11, 201710-year Treasury: 2.22% · Aug 14, 201710-year Treasury: 2.27% · Aug 15, 201710-year Treasury: 2.23% · Aug 16, 201710-year Treasury: 2.19% · Aug 17, 201710-year Treasury: 2.19% · Aug 18, 201710-year Treasury: 2.18% · Aug 21, 201710-year Treasury: 2.22% · Aug 22, 201710-year Treasury: 2.17% · Aug 23, 201710-year Treasury: 2.19% · Aug 24, 201710-year Treasury: 2.17% · Aug 25, 201710-year Treasury: 2.16% · Aug 28, 201710-year Treasury: 2.13% · Aug 29, 201710-year Treasury: 2.15% · Aug 30, 201710-year Treasury: 2.12% · Aug 31, 201710-year Treasury: 2.16% · Sep 1, 201710-year Treasury: 2.07% · Sep 5, 201710-year Treasury: 2.10% · Sep 6, 201710-year Treasury: 2.05% · Sep 7, 201710-year Treasury: 2.06% · Sep 8, 201710-year Treasury: 2.14% · Sep 11, 201710-year Treasury: 2.17% · Sep 12, 201710-year Treasury: 2.20% · Sep 13, 201710-year Treasury: 2.20% · Sep 14, 201710-year Treasury: 2.20% · Sep 15, 201710-year Treasury: 2.23% · Sep 18, 201710-year Treasury: 2.24% · Sep 19, 201710-year Treasury: 2.28% · Sep 20, 201710-year Treasury: 2.27% · Sep 21, 201710-year Treasury: 2.26% · Sep 22, 201710-year Treasury: 2.22% · Sep 25, 201710-year Treasury: 2.24% · Sep 26, 201710-year Treasury: 2.31% · Sep 27, 201710-year Treasury: 2.31% · Sep 28, 201710-year Treasury: 2.33% · Sep 29, 201710-year Treasury: 2.34% · Oct 2, 201710-year Treasury: 2.33% · Oct 3, 201710-year Treasury: 2.33% · Oct 4, 201710-year Treasury: 2.35% · Oct 5, 201710-year Treasury: 2.37% · Oct 6, 201710-year Treasury: 2.35% · Oct 10, 201710-year Treasury: 2.35% · Oct 11, 201710-year Treasury: 2.33% · Oct 12, 201710-year Treasury: 2.28% · Oct 13, 201710-year Treasury: 2.30% · Oct 16, 201710-year Treasury: 2.30% · Oct 17, 201710-year Treasury: 2.34% · Oct 18, 201710-year Treasury: 2.33% · Oct 19, 201710-year Treasury: 2.39% · Oct 20, 201710-year Treasury: 2.38% · Oct 23, 201710-year Treasury: 2.42% · Oct 24, 201710-year Treasury: 2.44% · Oct 25, 201710-year Treasury: 2.46% · Oct 26, 201710-year Treasury: 2.42% · Oct 27, 2017Apr 28, 2017Jul 28, 2017Oct 28, 2017
30-year fixed mortgage26 observations10-year Treasury127 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$1,418.44/month

3.92% · Jul 27, 2017

At the later reference$1,408.14/month

3.86% · Aug 24, 2017

The illustrative principal-and-interest payment is $10.31 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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