US Employment Cost Index Rises 0.9% in Q2 as Real Wages Fall 0.4%
Updated
Updated · investinglive.com · Jul 31
US Employment Cost Index Rises 0.9% in Q2 as Real Wages Fall 0.4%
3 articles · Updated · investinglive.com · Jul 31
Summary
U.S. labor costs rose 0.9% in the second quarter through June, matching the prior quarter and topping the 0.8% expectation.
Wages and salaries also increased 0.9% on the quarter, while benefit costs rose 1.0%, showing compensation pressures stayed steady rather than accelerating.
On a year-over-year basis, total compensation climbed 3.4%, with wages up 3.2% and benefits up 3.8%; private-sector compensation rose 3.3%.
Private-industry real wages and salaries still fell 0.4% from a year earlier, indicating consumer prices slightly outpaced nominal pay gains.