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First-Quarter U.S. Employment Cost Index Grows 0.7% in Q1 |
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US Economy |
Written by CEP News |
Apr 30 08 12:33 GMT |
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(CEP News) - Total compensation for civilian workers increased 0.7% in the first quarter of 2008, the Department of Labor reported Wednesday, in line with expectations and a repeat of the fourth quarter figures.
Wages and salaries rose 0.8% while benefit costs ticked lower to 0.6%. The index, according to the DOL press release, measures quarterly changes in compensation costs for civilian workers, or nonfarm private industry and local government workers. Private industry compensation also held steady 0.8% in the first quarter, with a 0.6% increase in benefit costs. State and local governments reported a 0.6% increase for compensation, a 0.7% gain for wages and salaries and a 0.3% rise in benefit costs. By Erik Kevin Franco,
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and Steve Huebl,
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, edited by Nancy Girgis,
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