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Jobs · ORIGINAL ECONOMIC RELEASE

September 2019 Employment Cost Index

Compensation costs for civilian workers increased 0.7 percent, seasonally adjusted, for the 3-month period ending in September 2019, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.9 percent and…

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 0.7 percent, seasonally adjusted, for the 3-month period ending in September 2019, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.9 percent and benefit costs increased 0.6 percent from June 2019. (See tables A, 1, 2, and 3.)

Civilian Workers

Compensation costs for civilian workers increased 2.8 percent for the 12-month period ending in September 2019, the same as in September 2018. Wages and salaries increased 2.9 percent for the 12-month period ending in September 2019 and also increased 2.9 percent for the 12-month period ending in September 2018. Benefit costs increased 2.3 percent for the 12-month period ending in September 2019. In September 2018, the increase was 2.6 percent. (See tables A, 4, 8, and 12.)

Private Industry Workers

Compensation costs for private industry workers increased 2.7 percent over the year, compared with a compensation cost increase of 2.9 percent in September 2018. Wages and salaries increased 3.0 percent for the 12-month period ending in September 2019 and increased 3.1 percent in September 2018. The cost of benefits rose 2.0 percent for the 12-month period ending in September 2019 and increased 2.5 percent in September 2018. (See tables A, 5, 9, and 12.)

Employer costs for health benefits increased 2.0 percent for the 12-month period ending in September 2019. (For further information, see www.bls.gov/web/eci/echealth.pdf.)

Among private industry occupational groups, compensation cost increases for the 12-month period ending in September 2019 ranged from 2.3 percent for management, professional, and related occupations to 3.5 percent for service occupations. (See table 5.)

Among private industry supersectors, compensation cost increases for the 12-month period ending in September 2019 ranged from 0.7 percent for information to 3.5 percent for construction. (See table 5.)

State and Local Government Workers

Compensation costs for state and local government workers increased 3.1 percent for the 12-month period ending in September 2019. In September 2018, the increase was 2.5 percent. Wages and salaries increased 2.7 percent for the 12-month period ending in September 2019 and 2.3 percent a year ago. Benefit costs increased 3.5 percent for the 12-month period ending in September 2019. The prior year increase was 3.1 percent. (See tables A, 7, 11, and 12.)

The Employment Cost Index for December 2019 is scheduled for release on January 31, 2020, at 8:30 a.m. (EST).

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 Oct 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 earlierOct 1, 2019Publication referenceOct 31, 201930 days laterNov 30, 2019
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®3.64%Observed 3.78%Observed +14 bps vs. earlier reference3.68%Observed −10 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury1.65%Observed 1.69%Observed +4 bps vs. earlier reference1.78%Observed +9 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

Jul 31, 2019 – Jan 31, 2020
Historical mortgage and Treasury observations around Oct 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%2.50%4.00%Publication date30-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, 201930-year fixed mortgage: 3.69% · Nov 7, 201930-year fixed mortgage: 3.75% · Nov 14, 201930-year fixed mortgage: 3.66% · Nov 21, 201930-year fixed mortgage: 3.68% · Nov 27, 201930-year fixed mortgage: 3.68% · Dec 5, 201930-year fixed mortgage: 3.73% · Dec 12, 201930-year fixed mortgage: 3.73% · Dec 19, 201930-year fixed mortgage: 3.74% · Dec 26, 201930-year fixed mortgage: 3.72% · Jan 2, 202030-year fixed mortgage: 3.64% · Jan 9, 202030-year fixed mortgage: 3.65% · Jan 16, 202030-year fixed mortgage: 3.60% · Jan 23, 202030-year fixed mortgage: 3.51% · Jan 30, 202010-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, 201910-year Treasury: 1.73% · Nov 1, 201910-year Treasury: 1.79% · Nov 4, 201910-year Treasury: 1.86% · Nov 5, 201910-year Treasury: 1.81% · Nov 6, 201910-year Treasury: 1.92% · Nov 7, 201910-year Treasury: 1.94% · Nov 8, 201910-year Treasury: 1.92% · Nov 12, 201910-year Treasury: 1.88% · Nov 13, 201910-year Treasury: 1.82% · Nov 14, 201910-year Treasury: 1.84% · Nov 15, 201910-year Treasury: 1.81% · Nov 18, 201910-year Treasury: 1.79% · Nov 19, 201910-year Treasury: 1.73% · Nov 20, 201910-year Treasury: 1.77% · Nov 21, 201910-year Treasury: 1.77% · Nov 22, 201910-year Treasury: 1.76% · Nov 25, 201910-year Treasury: 1.74% · Nov 26, 201910-year Treasury: 1.77% · Nov 27, 201910-year Treasury: 1.78% · Nov 29, 201910-year Treasury: 1.83% · Dec 2, 201910-year Treasury: 1.72% · Dec 3, 201910-year Treasury: 1.77% · Dec 4, 201910-year Treasury: 1.80% · Dec 5, 201910-year Treasury: 1.84% · Dec 6, 201910-year Treasury: 1.83% · Dec 9, 201910-year Treasury: 1.85% · Dec 10, 201910-year Treasury: 1.79% · Dec 11, 201910-year Treasury: 1.90% · Dec 12, 201910-year Treasury: 1.82% · Dec 13, 201910-year Treasury: 1.89% · Dec 16, 201910-year Treasury: 1.89% · Dec 17, 201910-year Treasury: 1.92% · Dec 18, 201910-year Treasury: 1.92% · Dec 19, 201910-year Treasury: 1.92% · Dec 20, 201910-year Treasury: 1.93% · Dec 23, 201910-year Treasury: 1.90% · Dec 24, 201910-year Treasury: 1.90% · Dec 26, 201910-year Treasury: 1.88% · Dec 27, 201910-year Treasury: 1.90% · Dec 30, 201910-year Treasury: 1.92% · Dec 31, 201910-year Treasury: 1.88% · Jan 2, 202010-year Treasury: 1.80% · Jan 3, 202010-year Treasury: 1.81% · Jan 6, 202010-year Treasury: 1.83% · Jan 7, 202010-year Treasury: 1.87% · Jan 8, 202010-year Treasury: 1.85% · Jan 9, 202010-year Treasury: 1.83% · Jan 10, 202010-year Treasury: 1.85% · Jan 13, 202010-year Treasury: 1.82% · Jan 14, 202010-year Treasury: 1.79% · Jan 15, 202010-year Treasury: 1.81% · Jan 16, 202010-year Treasury: 1.84% · Jan 17, 202010-year Treasury: 1.78% · Jan 21, 202010-year Treasury: 1.77% · Jan 22, 202010-year Treasury: 1.74% · Jan 23, 202010-year Treasury: 1.70% · Jan 24, 202010-year Treasury: 1.61% · Jan 27, 202010-year Treasury: 1.65% · Jan 28, 202010-year Treasury: 1.60% · Jan 29, 202010-year Treasury: 1.57% · Jan 30, 202010-year Treasury: 1.51% · Jan 31, 2020Jul 31, 2019Oct 31, 2019Jan 31, 2020
30-year fixed mortgage27 observations10-year Treasury126 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$1,394.46/month

3.78% · Oct 31, 2019

At the later reference$1,377.46/month

3.68% · Nov 27, 2019

The illustrative principal-and-interest payment is $17.00 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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