Employment Cost Index Rises 0.3% in Q3

Published October 28, 2011, 8:30 a.m. EDT

Updated October 28, 2011, 8:42 a.m. EDT

1 Min Read

NEW YORK - The Employment Cost Index rose 0.3% in the third quarter 2011on a seasonally adjusted basis, the Bureau of Labor Statistics reported Friday. Second quarter ECI was unrevised at a 0.7% increase.

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Wages and salaries, which account for about 70% of compensation, rose 0.3%, while benefits, about 30% of the cost, rose 0.1%. Second quarter wages rose 0.4% and benefits were up 1.1%.

Economists polled by Thomson Reuters predicted a 0.6% increase in employment costs.

Only private sector workers saw wages and salaries increase in the second quarter, rising a tenth of a percent.

Private sector employment costs rose 0.4% overall.

Gary Siegel

Managing Editor

Gary Siegel is a journalist with more than 35 years of experience. He started his professional career at the Long Island Journal newspapers based in... Read full bio

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