WASHINGTON – The employment cost index, used to track overall labor costs, rose 0.4% for the 12-month period ending in September, after increasing 0.5% at a seasonally adjusted rate during the second quarter of 2010, according to a report the Bureau of Labor Statistics released this morning.
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The 0.5% gain for the second quarter followed an unrevised 1.7% increase for the previous quarter ending in March.
The third-quarter gain was lower than the 0.5% uptick predicted by economists, according to a median estimate from Thomson Reuters.
