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Panelists Discuss Pay Transparency
Closing pay gaps will require employers, some of whom have little infrastructure or capacity to uphold the law, to think carefully about their compensation spectrum, experts said at an ILR forum.
2021 Fourth Quarter Summary: Annual compensation growth accelerates but continues to fall short of inflation; largest increases were in wages and salaries for private-sector workers, particularly for those in service occupations. Civilian workers’ compensation costs 12-month growth rate of 4.0 percent growth is the highest in 20 years.
2021 Third Quarter Summary: Annual compensation growth accelerates but falls far short of inflation; largest increases were in wages and salaries for private-sector workers and those in service occupations. Although varying by occupation and sectors, compensation witnesses record-high growth increase in 17 years.
2021 Second Quarter Summary: Annual compensation growth strengthens further, with largest increases for wages and salaries for private-sector workers in service occupations. Propelled by rising private sector compensation, ECI growth rate recovers to pre-pandemic level.
2021 First Quarter Summary: Annual compensation growth recovers further from pandemic effects. As ECI growth rate approaches pre-Covid pace, low-wage workers are disproportionately impacted by the pandemic.
2020 Fourth Quarter Summary: Annual compensation growth remains steady. Wage and salary growth in the public sector decelerates while the private sector growth gap widens among occupations.
