US businesses raise pay at fastest pace in 11 years
WASHINGTON (AP) — U.S. private-sector workers received the biggest pay raise in 11 years in the first three months of the year, a sign that the tight job market is slowly lifting wages.
The Labor Department said Friday that its employment cost index shows wages and salaries in the private sector rose 1 percent between January and March compared with the previous quarter. That's the biggest gain since the first quarter of 2007, before the Great Recession began.
Wages rise at 2.6 percent in 2017 despite Q4 slowdown
WASHINGTON (AP) — U.S. workers' wages and benefits grew 2.6 percent last year, the fastest 12-month pace since the spring of 2015.
The 12-month gain in wages and benefits came despite a slight slowdown at the end of last year with wages and benefits rising 0.6 percent in the fourth quarter, a tiny dip from a 0.7 percent gain in the third quarter, the Labor Department reported Wednesday. Still, the 12-month gain was an improvement from a 2.2 percent gain for the 12 months ending in December 2016.
US employment costs grew slower in second quarter
WASHINGTON (AP) — Wages and benefits paid to U.S. civilian workers grew more slowly in the second quarter.
The Labor Department said Friday total compensation was up 0.5 percent in the April-June period, compared to 0.8 percent growth in the first quarter.
Wages and salaries, which account for 70 percent of compensation costs, also rose 0.5 percent. Benefit costs, which cover pensions and health insurance, increased 0.6 percent.
US employment costs climbed steadily in first quarter
WASHINGTON (AP) — Wages and benefits paid to U.S. civilian workers grew steadily in the first three months of the year.
The Employment Cost Index, which tracks wages and benefits, was up 0.8 percent in the first quarter, the Labor Department said Friday, That's the biggest quarterly growth since December 2007 and slightly faster than the 0.5 percent growth in the last quarter of 2016.
US wages, benefits grew a steady 0.5 percent in 4th quarter
WASHINGTON (AP) — Wages and benefits paid to U.S. civilian workers grew at a steady pace during the final three months of 2016.
The Labor Department said Tuesday that total compensation rose 0.5 percent from October through December, a tad slower than 0.6 percent growth in the July-September period. Wages and salaries increased 0.5 percent, benefits 0.4 percent.
In the 12 months that ended Dec. 31, compensation increased 2.2 percent, up from an annual gain of 2 percent a year earlier.