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Employment Cost Index Up 0.5% in Second Quarter

MarketWatch (07/31/12) Greg Robb

According to new U.S. Department of Labor numbers, the employment cost index rose 0.5% for all civilian workers in the second quarter, slightly more than the 0.4% increase in the first quarter. Employment costs have climbed 1.7% in the last year, the slowest increase since 2010’s April-June period. The employment cost index comprises wages and benefits. In the second quarter, wages—which account for 70% of employment costs—increased 0.4%, while benefits increased 0.6%.