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Jobs · ORIGINAL ECONOMIC RELEASE

December 2019 Employment Cost Index

Compensation costs for civilian workers increased 0.7 percent, seasonally adjusted, for the 3-month period ending in December 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 0.7 percent, seasonally adjusted, for the 3-month period ending in December 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 September 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 December 2019, compared to 2.9 percent in December 2018. Wages and salaries increased 2.9 percent over the year and increased 3.1 percent for the 12-month period ending in December 2018. Benefit costs increased 2.2 percent for the 12-month period ending in December 2019. In December 2018, the increase was 2.8 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 3.0 percent in December 2018. Wages and salaries increased 3.0 percent for the 12-month period ending in December 2019 and increased 3.1 percent in December 2018. The cost of benefits rose 1.9 percent for the 12-month period ending in December 2019 and increased 2.6 percent in December 2018. (See tables A, 5, 9, and 12.)

Employer costs for health benefits increased 2.2 percent for the 12-month period ending in December 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 December 2019 ranged from 2.2 percent for management, professional, and related 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 December 2019 ranged from 1.0 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 2.9 percent for the 12-month period ending in December 2019. In December 2018, the increase was 2.6 percent. Wages and salaries increased 2.5 percent for the 12-month period ending in December 2019 and 2.4 percent a year ago. Benefit costs increased 3.3 percent for the 12-month period ending in December 2019. The prior year increase was 3.1 percent. (See tables A, 7, 11, and 12.)

The Employment Cost Index for March 2020 is scheduled for release on April 30, 2020, 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.

Seasonal Factors

The 2020 seasonal factors for directly adjusted series and revised seasonally adjusted series for the past five years are scheduled for release with the March 2020 Employment Cost Index on April 30, 2020 at 8:30 a.m. (EDT), see www.bls.gov/ncs/ect/ectsfact.htm.

Source: U.S. Bureau of Labor Statistics · Original release Jan 31, 2020.

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 earlierJan 1, 2020Publication referenceJan 31, 202030 days laterMar 1, 2020
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®3.74%Observed 3.51%Observed −23 bps vs. earlier reference3.45%Observed −6 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury1.92%Observed 1.51%Observed −41 bps vs. earlier reference1.13%Observed −38 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 31, 2019 – Apr 30, 2020
Historical mortgage and Treasury observations around Jan 31, 2020Each 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.0.50%2.25%4.00%Publication date30-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, 202030-year fixed mortgage: 3.45% · Feb 6, 202030-year fixed mortgage: 3.47% · Feb 13, 202030-year fixed mortgage: 3.49% · Feb 20, 202030-year fixed mortgage: 3.45% · Feb 27, 202030-year fixed mortgage: 3.29% · Mar 5, 202030-year fixed mortgage: 3.36% · Mar 12, 202030-year fixed mortgage: 3.65% · Mar 19, 202030-year fixed mortgage: 3.50% · Mar 26, 202030-year fixed mortgage: 3.33% · Apr 2, 202030-year fixed mortgage: 3.33% · Apr 9, 202030-year fixed mortgage: 3.31% · Apr 16, 202030-year fixed mortgage: 3.33% · Apr 23, 202030-year fixed mortgage: 3.23% · Apr 30, 202010-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, 202010-year Treasury: 1.54% · Feb 3, 202010-year Treasury: 1.61% · Feb 4, 202010-year Treasury: 1.66% · Feb 5, 202010-year Treasury: 1.65% · Feb 6, 202010-year Treasury: 1.59% · Feb 7, 202010-year Treasury: 1.56% · Feb 10, 202010-year Treasury: 1.59% · Feb 11, 202010-year Treasury: 1.62% · Feb 12, 202010-year Treasury: 1.61% · Feb 13, 202010-year Treasury: 1.59% · Feb 14, 202010-year Treasury: 1.55% · Feb 18, 202010-year Treasury: 1.56% · Feb 19, 202010-year Treasury: 1.52% · Feb 20, 202010-year Treasury: 1.46% · Feb 21, 202010-year Treasury: 1.38% · Feb 24, 202010-year Treasury: 1.33% · Feb 25, 202010-year Treasury: 1.33% · Feb 26, 202010-year Treasury: 1.30% · Feb 27, 202010-year Treasury: 1.13% · Feb 28, 202010-year Treasury: 1.10% · Mar 2, 202010-year Treasury: 1.02% · Mar 3, 202010-year Treasury: 1.02% · Mar 4, 202010-year Treasury: 0.92% · Mar 5, 202010-year Treasury: 0.74% · Mar 6, 202010-year Treasury: 0.54% · Mar 9, 202010-year Treasury: 0.76% · Mar 10, 202010-year Treasury: 0.82% · Mar 11, 202010-year Treasury: 0.88% · Mar 12, 202010-year Treasury: 0.94% · Mar 13, 202010-year Treasury: 0.73% · Mar 16, 202010-year Treasury: 1.02% · Mar 17, 202010-year Treasury: 1.18% · Mar 18, 202010-year Treasury: 1.12% · Mar 19, 202010-year Treasury: 0.92% · Mar 20, 202010-year Treasury: 0.76% · Mar 23, 202010-year Treasury: 0.84% · Mar 24, 202010-year Treasury: 0.88% · Mar 25, 202010-year Treasury: 0.83% · Mar 26, 202010-year Treasury: 0.72% · Mar 27, 202010-year Treasury: 0.70% · Mar 30, 202010-year Treasury: 0.70% · Mar 31, 202010-year Treasury: 0.62% · Apr 1, 202010-year Treasury: 0.63% · Apr 2, 202010-year Treasury: 0.62% · Apr 3, 202010-year Treasury: 0.67% · Apr 6, 202010-year Treasury: 0.75% · Apr 7, 202010-year Treasury: 0.77% · Apr 8, 202010-year Treasury: 0.73% · Apr 9, 202010-year Treasury: 0.76% · Apr 13, 202010-year Treasury: 0.76% · Apr 14, 202010-year Treasury: 0.63% · Apr 15, 202010-year Treasury: 0.61% · Apr 16, 202010-year Treasury: 0.65% · Apr 17, 202010-year Treasury: 0.63% · Apr 20, 202010-year Treasury: 0.58% · Apr 21, 202010-year Treasury: 0.63% · Apr 22, 202010-year Treasury: 0.61% · Apr 23, 202010-year Treasury: 0.60% · Apr 24, 202010-year Treasury: 0.67% · Apr 27, 202010-year Treasury: 0.62% · Apr 28, 202010-year Treasury: 0.63% · Apr 29, 202010-year Treasury: 0.64% · Apr 30, 2020Oct 31, 2019Jan 31, 2020Apr 30, 2020
30-year fixed mortgage27 observations10-year Treasury124 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$1,348.81/month

3.51% · Jan 30, 2020

At the later reference$1,338.77/month

3.45% · Feb 27, 2020

The illustrative principal-and-interest payment is $10.03 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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