DOL: Employment costs slow as companies hold the line on wages

Published Updated 3 Min Read

(Bloomberg) — Employment costs rose at a slower pace in the third quarter compared with the prior three months, indicating workers have limited scope to bargain for higher wages as the U.S. economy struggles to pick up.

The employment cost index increased 0.4% following a 0.5% gain in the prior quarter, the Department of Labor said Wednesday. Business activity unexpectedly contracted for a second month in October, another report showed.


For reprint and licensing requests for this article, click here.


More From Employee Benefit News

Sign Up Form

Login Modal Form