Suncoast Paychecks Grew 3.1% This Year, but Inflation Left Workers Behind

The Labor Department’s Employment Cost Index shows civilian compensation rose 3.4% in the 12 months ending in September. Wages and salaries grew 3.1%, and benefits costs climbed 3.9%. Good headlines, until you adjust for inflation. In real terms, private-sector wages and salaries fell 0.6% over the year, and state and local government workers slipped 0.5%. Your pay went up. Your purchasing power did not.