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Jobs · ORIGINAL ECONOMIC RELEASE

June 2019 Employment Cost Index

Compensation costs for civilian workers increased 0.6 percent, seasonally adjusted, for the 3-month period ending in June 2019, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.7 percent and benefit…

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 June 2019, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.7 percent and benefit costs increased 0.5 percent from March 2019. (See tables A, 1, 2, and 3.)

Civilian Workers

Compensation costs for civilian workers increased 2.7 percent for the 12-month period ending in June 2019 compared with an increase of 2.8 percent in June 2018. Wages and salaries increased 2.9 percent for the 12-month period ending in June 2019 and increased 2.8 percent for the 12-month period ending in June 2018. Benefit costs increased 2.3 percent for the 12-month period ending in June 2019. In June 2018, the increase was 2.9 percent. (See tables A, 4, 8, and 12.)

Private Industry Workers

Compensation costs for private industry workers increased 2.6 percent over the year, compared with a compensation cost increase of 2.9 percent in June 2018. Wages and salaries increased 3.0 percent for the 12-month period ending in June 2019 and increased 2.9 percent in June 2018. The cost of benefits rose 1.8 percent for the 12-month period ending in June 2019 and increased 2.8 percent in June 2018. (See tables A, 5, 9, and 12.)

Employer costs for health benefits increased 2.3 percent for the 12-month period ending in June 2019. (For further information, see chart 3 and www.bls.gov/web/eci/echealth.txt.)

Among private industry occupational groups, compensation cost increases for the 12-month period ending in June 2019 ranged from 2.1 percent for natural resource, construction, and maintenance occupations to 3.7 percent for service occupations. (See table 5.)

Among private industry supersectors, compensation cost increases for the 12-month period ending in June 2019 ranged from 1.0 percent for information to 3.6 percent for leisure and hospitality. (See table 5.)

State and Local Government Workers

Compensation costs for state and local government workers increased 3.0 percent for the 12-month period ending in June 2019. In June 2018, the increase was 2.3 percent. Wages and salaries increased 2.5 percent for the 12-month period ending in June 2019 and 1.9 percent a year ago. Benefit costs increased 3.6 percent for the 12-month period ending in June 2019. The prior year increase was 3.1 percent. (See tables A, 7, 11, and 12.)

The Employment Cost Index for September 2019 is scheduled for release on October 31, 2019, at 8:30 a.m. (EDT).

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

Videos and information graphics explaining the Employment Cost Index and how it is used are available at www.bls.gov/eci/videos.htm.

Highlights of recent National Compensation Survey data are available in The Economics Daily at www.bls.gov/opub/ted/national-compensation-survey.htm.

An overview of available BLS compensation measures and an interactive guide on choosing among them are available at the BLS Commissioner’s Corner on “Making it Easier to Find Data on Pay and Benefits” at blogs.bls.gov/blog/2018/10/24/making-it-easier-to-find-data-on-pay-and-benefits.

Source: U.S. Bureau of Labor Statistics · Original release Jul 31, 2019.

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, 2019Publication referenceJul 31, 201930 days laterAug 30, 2019
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®3.73%Observed 3.75%Observed +2 bps vs. earlier reference3.58%Observed −17 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury2.03%Observed 2.02%Observed −1 bps vs. earlier reference1.50%Observed −52 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 30, 2019 – Oct 31, 2019
Historical mortgage and Treasury observations around Jul 31, 2019Each 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.1.00%2.75%4.50%Publication date30-year fixed mortgage: 4.14% · May 2, 201930-year fixed mortgage: 4.10% · May 9, 201930-year fixed mortgage: 4.07% · May 16, 201930-year fixed mortgage: 4.06% · May 23, 201930-year fixed mortgage: 3.99% · May 30, 201930-year fixed mortgage: 3.82% · Jun 6, 201930-year fixed mortgage: 3.82% · Jun 13, 201930-year fixed mortgage: 3.84% · Jun 20, 201930-year fixed mortgage: 3.73% · Jun 27, 201930-year fixed mortgage: 3.75% · Jul 3, 201930-year fixed mortgage: 3.75% · Jul 11, 201930-year fixed mortgage: 3.81% · Jul 18, 201930-year fixed mortgage: 3.75% · Jul 25, 201930-year fixed mortgage: 3.75% · Aug 1, 201930-year fixed mortgage: 3.60% · Aug 8, 201930-year fixed mortgage: 3.60% · Aug 15, 201930-year fixed mortgage: 3.55% · Aug 22, 201930-year fixed mortgage: 3.58% · Aug 29, 201930-year fixed mortgage: 3.49% · Sep 5, 201930-year fixed mortgage: 3.56% · Sep 12, 201930-year fixed mortgage: 3.73% · Sep 19, 201930-year fixed mortgage: 3.64% · Sep 26, 201930-year fixed mortgage: 3.65% · Oct 3, 201930-year fixed mortgage: 3.57% · Oct 10, 201930-year fixed mortgage: 3.69% · Oct 17, 201930-year fixed mortgage: 3.75% · Oct 24, 201930-year fixed mortgage: 3.78% · Oct 31, 201910-year Treasury: 2.51% · Apr 30, 201910-year Treasury: 2.52% · May 1, 201910-year Treasury: 2.55% · May 2, 201910-year Treasury: 2.54% · May 3, 201910-year Treasury: 2.51% · May 6, 201910-year Treasury: 2.45% · May 7, 201910-year Treasury: 2.49% · May 8, 201910-year Treasury: 2.45% · May 9, 201910-year Treasury: 2.47% · May 10, 201910-year Treasury: 2.40% · May 13, 201910-year Treasury: 2.42% · May 14, 201910-year Treasury: 2.37% · May 15, 201910-year Treasury: 2.40% · May 16, 201910-year Treasury: 2.39% · May 17, 201910-year Treasury: 2.41% · May 20, 201910-year Treasury: 2.43% · May 21, 201910-year Treasury: 2.39% · May 22, 201910-year Treasury: 2.31% · May 23, 201910-year Treasury: 2.32% · May 24, 201910-year Treasury: 2.26% · May 28, 201910-year Treasury: 2.25% · May 29, 201910-year Treasury: 2.22% · May 30, 201910-year Treasury: 2.14% · May 31, 201910-year Treasury: 2.07% · Jun 3, 201910-year Treasury: 2.12% · Jun 4, 201910-year Treasury: 2.12% · Jun 5, 201910-year Treasury: 2.12% · Jun 6, 201910-year Treasury: 2.09% · Jun 7, 201910-year Treasury: 2.15% · Jun 10, 201910-year Treasury: 2.15% · Jun 11, 201910-year Treasury: 2.13% · Jun 12, 201910-year Treasury: 2.10% · Jun 13, 201910-year Treasury: 2.09% · Jun 14, 201910-year Treasury: 2.09% · Jun 17, 201910-year Treasury: 2.06% · Jun 18, 201910-year Treasury: 2.03% · Jun 19, 201910-year Treasury: 2.01% · Jun 20, 201910-year Treasury: 2.07% · Jun 21, 201910-year Treasury: 2.02% · Jun 24, 201910-year Treasury: 2.00% · Jun 25, 201910-year Treasury: 2.05% · Jun 26, 201910-year Treasury: 2.01% · Jun 27, 201910-year Treasury: 2.00% · Jun 28, 201910-year Treasury: 2.03% · Jul 1, 201910-year Treasury: 1.98% · Jul 2, 201910-year Treasury: 1.96% · Jul 3, 201910-year Treasury: 2.04% · Jul 5, 201910-year Treasury: 2.05% · Jul 8, 201910-year Treasury: 2.07% · Jul 9, 201910-year Treasury: 2.07% · Jul 10, 201910-year Treasury: 2.13% · Jul 11, 201910-year Treasury: 2.12% · Jul 12, 201910-year Treasury: 2.09% · Jul 15, 201910-year Treasury: 2.13% · Jul 16, 201910-year Treasury: 2.06% · Jul 17, 201910-year Treasury: 2.04% · Jul 18, 201910-year Treasury: 2.05% · Jul 19, 201910-year Treasury: 2.05% · Jul 22, 201910-year Treasury: 2.08% · Jul 23, 201910-year Treasury: 2.05% · Jul 24, 201910-year Treasury: 2.08% · Jul 25, 201910-year Treasury: 2.08% · Jul 26, 201910-year Treasury: 2.06% · Jul 29, 201910-year Treasury: 2.06% · Jul 30, 201910-year Treasury: 2.02% · Jul 31, 201910-year Treasury: 1.90% · Aug 1, 201910-year Treasury: 1.86% · Aug 2, 201910-year Treasury: 1.75% · Aug 5, 201910-year Treasury: 1.73% · Aug 6, 201910-year Treasury: 1.71% · Aug 7, 201910-year Treasury: 1.72% · Aug 8, 201910-year Treasury: 1.74% · Aug 9, 201910-year Treasury: 1.65% · Aug 12, 201910-year Treasury: 1.68% · Aug 13, 201910-year Treasury: 1.59% · Aug 14, 201910-year Treasury: 1.52% · Aug 15, 201910-year Treasury: 1.55% · Aug 16, 201910-year Treasury: 1.60% · Aug 19, 201910-year Treasury: 1.55% · Aug 20, 201910-year Treasury: 1.59% · Aug 21, 201910-year Treasury: 1.62% · Aug 22, 201910-year Treasury: 1.52% · Aug 23, 201910-year Treasury: 1.54% · Aug 26, 201910-year Treasury: 1.49% · Aug 27, 201910-year Treasury: 1.47% · Aug 28, 201910-year Treasury: 1.50% · Aug 29, 201910-year Treasury: 1.50% · Aug 30, 201910-year Treasury: 1.47% · Sep 3, 201910-year Treasury: 1.47% · Sep 4, 201910-year Treasury: 1.57% · Sep 5, 201910-year Treasury: 1.55% · Sep 6, 201910-year Treasury: 1.63% · Sep 9, 201910-year Treasury: 1.72% · Sep 10, 201910-year Treasury: 1.75% · Sep 11, 201910-year Treasury: 1.79% · Sep 12, 201910-year Treasury: 1.90% · Sep 13, 201910-year Treasury: 1.84% · Sep 16, 201910-year Treasury: 1.81% · Sep 17, 201910-year Treasury: 1.80% · Sep 18, 201910-year Treasury: 1.79% · Sep 19, 201910-year Treasury: 1.74% · Sep 20, 201910-year Treasury: 1.72% · Sep 23, 201910-year Treasury: 1.64% · Sep 24, 201910-year Treasury: 1.73% · Sep 25, 201910-year Treasury: 1.70% · Sep 26, 201910-year Treasury: 1.69% · Sep 27, 201910-year Treasury: 1.68% · Sep 30, 201910-year Treasury: 1.65% · Oct 1, 201910-year Treasury: 1.60% · Oct 2, 201910-year Treasury: 1.54% · Oct 3, 201910-year Treasury: 1.52% · Oct 4, 201910-year Treasury: 1.56% · Oct 7, 201910-year Treasury: 1.54% · Oct 8, 201910-year Treasury: 1.59% · Oct 9, 201910-year Treasury: 1.67% · Oct 10, 201910-year Treasury: 1.76% · Oct 11, 201910-year Treasury: 1.77% · Oct 15, 201910-year Treasury: 1.75% · Oct 16, 201910-year Treasury: 1.76% · Oct 17, 201910-year Treasury: 1.76% · Oct 18, 201910-year Treasury: 1.80% · Oct 21, 201910-year Treasury: 1.78% · Oct 22, 201910-year Treasury: 1.77% · Oct 23, 201910-year Treasury: 1.77% · Oct 24, 201910-year Treasury: 1.80% · Oct 25, 201910-year Treasury: 1.85% · Oct 28, 201910-year Treasury: 1.84% · Oct 29, 201910-year Treasury: 1.78% · Oct 30, 201910-year Treasury: 1.69% · Oct 31, 2019Apr 30, 2019Jul 31, 2019Oct 31, 2019
30-year fixed mortgage27 observations10-year Treasury129 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$1,389.35/month

3.75% · Jul 25, 2019

At the later reference$1,360.57/month

3.58% · Aug 29, 2019

The illustrative principal-and-interest payment is $28.78 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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