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Education
&
Research:
Research
Statistics
2006
Contracts
Average
1st Year
Wage
Hikes of
3.2%
through
March
Data
compiled
by the
Bureau
of
National
Affairs
(BNA)
January
1 and
March
27, 2006
show
that the
average
first-year
wage
increase
in
collectively
bargained
contracts
was 3.2%
compared
to 3.3%
for a
comparable
period
in 2005.
The
average
increase
in these
agreements
weighted
by the
number
of
workers
covered
was 3.2%,
up from
2.1% in
2005.
When
lump-sums
are
factored
in, the
current
year
average
rises to
3.5%
compared
to 4.0%
in 2005.
The US
Bureau
of Labor
Statistics
"Employment
Cost
Index"
measures
changes
in the
cost to
an
employer
of wages
and
benefits.
In the
twelve
months
ending
in the
March
2006,
total
compensation
costs
rose by
2.8%
while
wages
and
salaries
alone
rose
2.7%.
BLS also
measures
median
weekly
earnings
of all
full-time
workers.
(Median
means
that
half of
all
workers
in the
US
receive
weekly
pay
above
and half
below
the
particular
salary.)
In
the
quarter
ending
with
March
2006,
median
weekly
earnings
were
2.3%
more
than the
previous
year;
the
consumer
price
index
for all
urban
consumers
(CPI-U)
was up
3.6%
during
the same
time-period.
For the
first
quarter
of 2006,
the
median
weekly
salary
for wage
and
salary
workers
was
$668.
THE
LABOR
FORCE
The
current
national
unemployment
rate was
4.6% for
June
2006.
The
unemployment
rate for
Hispanics
stands
at 5.3%
and the
rate for
African-Americans
is 9%.
About
1.6
million
persons
were
marginally
attached
to the
labor
force in
June
2006,
the same
as a
year
earlier.
These
individuals
wanted
and were
available
for work
and had
looked
for a
job
sometime
in the
prior 12
months.
They
were not
counted
as
unemployed
because
they had
not
searched
for work
in the 4
weeks
preceding
the
survey.
Among
the
marginally
attached,
there
were
481,000
discouraged
workers
in June,
also
about
the same
as a
year
earlier.
Discouraged
workers
were not
currently
looking
for work
specifically
because
they
believed
no jobs
were
available
for
them.
The
other
1.1
million
marginally
attached
had not
searched
for work
for
reasons
such as
school
attendance
or
family
responsibilities.
The
civilian
labor
force
(151.3
million)
and
total
employment
(144.4
million)
continued
to trend
up in
June
2006.
The
employment-population
ratio,
at 63.1
percent,
also was
essentially
unchanged
over the
month.
INFLATION
As
measured
by
the US
Bureau
of Labor
Statistics'
Consumer
Price
Index
(CPI-W),
prices
nationally
were
4.3%
higher
in May
2006
than in
May
2005.
With
rising
energy
prices,
inflation
will
remain a
threat
to the
economy
and to
the
living
standards
of
millions
of
Americans.
Transportation
costs
continue
to
accelerate;
the
transportation
component
of the
CPI-W
rose by
9.8%
from May
2005 to
May
2006.
Medical
care
costs
rose
4.1%
during
the same
period.
|
HEALTH CARE INFLATION*
|
| CPI-W ITEM |
2000 |
2001 |
2002 |
2003 |
2004 |
2005
|
2006 |
| Medical care |
4.6% |
4.6% |
4.6% |
4.1% |
4.7% |
4.4%
|
4.1%
|
Prescription drug costs
& medical supplies |
5.2% |
4.8% |
5.6% |
2.9% |
3.7% |
2.9%
|
5.1% |
| Professional medical services |
3.8% |
4.1% |
2.8% |
3.3% |
3.9% |
3.9%
|
2.5% |
|
Physicians' services
|
3.6% |
4.2% |
2.2% |
3.6% |
3.9% |
3.5%
|
1.3% |
|
Dental services
|
3.9% |
4.2% |
4.8% |
4.2% |
4.4% |
5.9%
|
5.1% |
|
Eye care services
|
4.2% |
3.4% |
1.1% |
-0.2% |
2.3% |
2.1%
|
3.4% |
| Hospital services** |
6.9% |
6.6% |
8.7% |
7.2% |
6.7% |
5.6%
|
6.4% |
NOTES:
*
Change
is
based
on
change
in
Consumer
Price
Index
(CPI-W)
from
May
to
May
of
each
year.
**
Includes
hospital
inpatient,
hospital
outpatient,
and
nursing
home
services.
Source:
US
Department
of
Labor,
Bureau
of
Labor
Statistics.
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