Worker Compensation in U.S. Up 0.6% for Third Straight QuarterBy
Worker pay in the U.S. increased 0.6 percent in the third quarter, matching the gain in the previous two periods, the Labor Department said Friday in its release of the employment cost index.
The gain in the ECI matched the median projection in a Bloomberg survey of economists, with estimates ranging from increases of 0.5 percent to 0.7 percent. The gauge measures employer-paid taxes such as Social Security and Medicare in addition to the costs of wages and benefits.
Total compensation, which includes wages and benefits, rose 2.3 percent over the past 12 months, the same year-over-year pace as in the second quarter.