Q1 US Employment Cost Index Rises as Expected, Benefits Growth Accelerated, Wage Growth Slowed
The quarterly US employment cost index rose by 0.9% in Q1, as expected in a survey compiled by Bloomberg as of 7:35 am ET and the same as in the previous quarter, the US Bureau of Labor Statistics reported on Friday.
Benefits costs accelerated by 1.2% in the quarter after a 0.8% gain in previous quarter, while wage growth slowed to 0.8% from 1% in Q4.
Employment costs were up 3.6% year-over-year in Q1, slower than a 3.8% gain in Q4. After adjustment for inflation, employment costs were up 1.2% year-over-year, above the 0.8% gain in the previous quarter.
Source: MT Newswires