Add as a preferred source on GoogleU.S. Compensation Costs Rise 0.8% as Growth Slows in Third Quarter
Wages and salaries increased 0.7% quarter over quarter, while compensation costs were 3.4% higher than a year earlier.
U.S. civilian compensation costs rose 0.8% in the third quarter, slowing from the prior period, while wages and salaries also recorded a smaller increase in the Employment Cost Index.
On a seasonally adjusted basis, compensation costs increased 0.8% in the three months through September, compared with 0.9% in the prior quarter. The quarterly increase in wages and salaries eased to 0.7% from 0.9%.
In the 12 months through September, civilian compensation costs increased 3.4%, while wages and salaries rose 3.1%.
The index is designed to track changes in labor expenses while accounting for shifts in the occupational and industry mix of employment. A preview of Friday’s employment-cost release listed the report for 8:30 a.m. ET (12:30 UTC) on Oct. 30.