Worker Pay in U.S. Rose 0.6% in Fourth Quarter, as Forecast
- Employment cost index, which includes benefits, also rose
- Wage acceleration remains elusive even as job market stronger
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Wages and salaries in the U.S. rose in the fourth quarter at the same pace as in the previous three months, indicating gradual tightening in the labor market has yet to put pressure on employers to boost pay.
The 0.6 percent advance in worker paychecks matched the increase in the third quarter, the Labor Department said Friday. The agency’s employment cost index, which also includes benefits, climbed 0.6 percent in the fourth quarter from the prior three months, matching the median forecast of 60 economists surveyed by Bloomberg.