Real Labor Compensation for Private Nonfarm in Minnesota

Observations

2023: 104.774

Updated: May 31, 2024 2:56 PM CDT

Units:

Index 2017=100,

Not Seasonally Adjusted

Frequency:

Annual

Notes

Title	Release Dates

Real Labor Compensation for Private Nonfarm in Minnesota	2021-05-27	2024-05-30

Source

U.S. Bureau of Labor Statistics	2021-05-27	2024-05-30

Release

Industry Productivity	2021-05-27	2024-05-30

Units

Index 2007=100	2021-05-27	2022-01-26
Index 2012=100	2022-01-27	2024-04-24
Index 2017=100	2024-04-25	2024-05-30

Frequency

Annual	2021-05-27	2024-05-30

Seasonal Adjustment

Not Seasonally Adjusted	2021-05-27	2024-05-30

Notes

Labor compensation, defined as payroll plus supplemental payments, is a measure of the cost to the employer of securing the services of labor. Payroll includes salaries, wages, commissions, dismissal pay, bonuses, vacation and sick leave pay, and compensation in kind. Supplemental payments include both legally required expenditures and payments for voluntary programs. The legally required portion consists primarily of federal old age and survivors’ insurance, unemployment compensation, and workers’ compensation. Payments for voluntary programs include all programs not specifically required by legislation, such as the employer portion of private health insurance and pension plans.	2021-05-27	2022-01-26
Real labor compensation is defined as payments to labor to produce goods and services, including wages, benefits and other monetary or nonmonetary payments, adjusted for inflation.	2022-01-27	2024-05-30