Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
WASHINGTON (AP) — The wages and benefits paid to U.S. civilian workers rose at a steady pace in the second quarter compared to the first three months of the year, as income growth showed signs of slight acceleration.
The Labor Department says total compensation increased 0.6 percent from April to June, matching the pace of the prior three months. Over the past 12 months, employment costs have risen 2.3 percent, up from the annual pace of 2 percent a year ago.
For private industry, most of the growth has come in the form wages and salaries that account for 70 percent of compensation costs. But for state and local government workers, the increase largely resulted from greater spending on benefits.
Despite the moderate increase, employment costs still indicate minimal inflation pressures.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
