Labor costs rise as expected in Q2
The employment cost index rose 0.6% in the second quarter, in-line with expectations.
Expectations were for the report to show employment costs - which are a more comprehensive measure of compensation than the average hourly earnings number reported in the monthly jobs report - rose 0.6% in the second quarter.
Over the prior year the ECI was up 2.3%, better than the 2.2% increase seen in the first quarter of the year.
In the second quarter wages and salaries - which makes up 70% of the index - were up 0.6% while benefits were up 0.5%.
Over the prior year wages and salaries are up 2.5% while benefits have increased 2%.
The Employment Cost Index resumes its uptrend pic.twitter.com/C6KgcXMDAL
- Joe Weisenthal (@TheStalwart) July 29, 2016
- People intolerant of other religions are more likely to reject science, study asserts
- 7 reasons why cucumber can be your summer weight loss friend
- 8 refreshing kulfis you must try this summer
- Adani Enterprises Q4 net falls 37%; incubating businesses show strong momentum
- India, New Zealand hold Joint Trade Committee meeting to deepen relations